Sep 4, 2019

WeWork CEO returns $5.9 million "trademark payment" to the company

Dan Primack

WeWork co-founder and CEO Adam Neumann has returned around $5.9 million worth of stock to the company, which he had originally received in exchange for the "we" trademarks, according to an amended IPO registration.

Why it matters: The payment was widely criticized, including by Axios, and was playing into a pre-IPO narrative that WeWork's corporate governance was broken.

The repayment was disclosed in an amended IPO filing from Wednesday morning.

The new filing also showed that WeWork has added Frances Frei, a Harvard Business School professor and former Uber executive, to its board. She is the company's first female director.
WeWork did not disclosed any new IPO details. Expectations are that we should get proposed pricing terms next week.

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WeWork CEO returns $5.9 million "trademark payment" to the company

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