As Klarna prepares for its stock market debut, CEO Sebastian Siemiatkowski and his top executives stand to gain significantly. With special shares granting him more control, Siemiatkowski's stake could be worth billions. Other executives, including David Fock and Camilla Giesecke, also hold shares and options potentially worth hundreds of millions.
Klarna's Leadership Set for Massive Windfall as Company Goes Public
Klarna's Leadership Set for Massive Windfall as Company Goes Public
Klarna's CEO Sebastian Siemiatkowski and his six closest executives own shares that could be worth hundreds of millions of kronor, according to a review by Dagens industri.
As the fintech giant Klarna goes public, CEO Sebastian Siemiatkowski will have the opportunity to exert even more control over the company. He will receive a new type of shares that grant him ten times more voting power than regular shares, although they are only worth half as much. He will receive these shares over five years, allowing him to gain greater influence over Klarna.
CEO Gains the Most
Sebastian Siemiatkowski, the CEO, already holds a significant portion of the company. His shares could be worth approximately 7.3 billion kronor if the stock price reaches $34, the price mentioned ahead of the IPO, writes Di. Additionally, he could gain even more control over the company through a new share program, which would give him more votes in the company.
Management Team's Financial Windfall
Based on an updated prospectus recently submitted, Dagens industri has compiled how much money the other six Klarna executives in the management team could receive with the listing.
Together, they own shares that could be worth around 370 million kronor, based on the indicated price of $34–36 per share, writes Di.
Klarna has declined to comment on Di's information.
Here's how much Klarna's top executives could receive, according to Di's survey:
David Fock, Chief Product Officer
David Fock joined Klarna in 2015 and owns 425,055 shares valued at just under 140 million kronor.
He has options that can be converted into shares by the end of September, equivalent to 175,164 shares—worth just under 60 million, according to Di.
He can also earn 4 million shares worth 1.3 billion kronor through his warrants and options, based on the current indicated price of $34 each, but not within the next two months, writes Di.
Camilla Giesecke, Chief Operating Officer
Camilla Giesecke is the Chief Operating Officer and has been a top name at Klarna since 2017. She owns 196,905 shares valued at 60 million kronor.
She has options that can soon be converted into 175,164 shares worth nearly 60 million kronor. In the long term, she also has the opportunity to convert options into 3 million shares, worth just under 1 billion kronor.
David Sandström, Chief Marketing Officer
Klarna's Chief Marketing Officer David Sandström has been with Klarna since 2017 and owns 289,149 shares valued at just over 90 million kronor.
Over time, he has the opportunity to earn nearly 2.3 million shares through options and warrants, worth over 700 million kronor.
David Sykes, Chief Commercial Officer
Klarna's Chief Commercial Officer David Sykes has worked at Klarna since 2019 and owns 184,596 shares valued at just under 60 million kronor.
He can earn 3.6 million shares, worth 1.2 billion kronor, through Klarna's options and warrants.
Niclas Neglén, Chief Financial Officer
Klarna's Chief Financial Officer Niclas Neglén has been with the company since 2021 and owns around 71,500 shares, valued at just over 20 million kronor. He also has warrants that can be converted into shares worth nearly 70 million kronor in the coming month.
Over time, he can convert options and warrants into over 4 million shares worth nearly 1.4 billion kronor.
Yaron Shaer, Chief Technology Officer
Yaron Shaer has been with Klarna since 2014 but does not own any shares. He has the right to convert options soon, giving him 207,696 shares, valued at up to 70 million kronor, writes Di.
In the long term, he also has the opportunity to convert options into 3.6 million shares, worth nearly 1.2 billion kronor.