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NMRK - O'Keefe Stevens Advisory - Newmark Group: The Lutnick Award
Newmark Group Inc.
On December 28, 2021, Newmark Group, Inc. awarded to Howard W. Lutnick, the Company's Chairman and principal executive officer, a one-time $50M bonus award.
Howard received this bonus because of the hedging activities and monetization of NDAQ shares.
The board paid Howard $50m for a transaction that he had nothing to do with and decreased shareholder value.
Companies with questionable management teams ought to trade at a discount.