TheStreet execs set to cash in on $87.3M deal

TheStreet, which is finalizing the $87.3 million sale of The Deal and BoardEx to Euromoney later this month, quietly revealed that most of its top executives will be t🏅ransformed overnight into millionaires once the deal closes.

Most recently, the company has been known for a series of bone-jarring layoffs as it tried to right the s♛hip in a tough market. And now those engineers will reward themselves generously when the deal closes on Jan. 31.

Jim Cramer, the founder and largest shareholder, and host of CNBC’s “Mad Money,” will line his pockets with another $1,365,334 thanks to the early vesting of 666,667 shares of unvestꦏed restricted stock units, according to a New Year’s Eve SEC filing.

TheStreet CEO David Callaway is out of a j♍ob once the deal closes — but shed no tears for him either, or any of the other top executives.

Callaway will be snagging $1.3 million, split between $772,500 in cash, another $484,335 in equ💝ity, plus advance payment of a 2018 bonus and other payments.

TheStreet CFO Eric Lundberg will be getting $1.47 million in cash, stock and bonuses as a result of the sale. On top of that, he’ll have a new annual base salary of $450,000 for his promotion to CEO of TheStreet. That deal payout comes with bonuses of $300,000 in a lump sum si꧃x months after the deal closes, another $300,000 a year later and $200,000 payablꦚe in monthly installments starting one year after the sale.

𝕴Jeff Davis, president of BoardEx and The Deal, will go with the divested units but receive cash and bonuses of $843,914 as a result of the sale. On top of that, his new gig with the new owners will give him an annual salary of $475,000 and an annual bonus in 2019 equal to his salary. Davis will also reap a performance-based equity award of $237,500 in May and another $475,000 in December.