Case Study

Reducing Range Anxiety for Electric Vehicle and Battery Company

In a fast-growing, highly competitive marketplace, Farient Advisors was engaged by a pre-IPO SPAC company that was experiencing significant talent retention issues. Another concern was that a delay in going public would alter employees’ perceived value of their total direct compensation packages.

Our team collaborated with the company’s compensation committee and management advisor to strategically tackle compensation issues and bring clarity and focus to its executive compensation programs. We provided a comprehensive IPO-readiness package that included a revised compensation philosophy, an integrated talent source map, a new peer group, a refresh of the incentive plan design, and an equity top-up grant pool.

The company is using these tools to ensure sound compensation programs, policies, and practices as it pursues an expedited process of going public via a SPAC. In 2021, our team introduced an environment and safety metric category to account for 25% of the company’s short-term incentive program. We recommended that the company also include a diversity, equity, and inclusion (DE&I)  metric once the firm instituted internal policies and an approach to support its goals.

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