Chief Legal Officer of IPO-Bound WeWork Made Almost $900K Last Year
Co-working space leasing company WeWork detailed chief legal officer Jen Berrent's 2018 compensation in its S-1 filing with the SEC Wednesday.
August 15, 2019 at 02:38 PM
2 minute read
Jennifer Berrent, WeWork’s co-president and chief legal officer. (Courtesy photo)
The parent company of WeWork, which leases work spaces in shared offices, officially filed to go public Wednesday with an S-1 revealing its chief legal officer’s 2018 compensation.
Jen Berrent, the chief legal officer and co-president of the We Co., earned almost $900,000 in cash compensation last year, according to the U.S. Securities and Exchange Commission filing. Her 2018 salary was $871,154 with an added $7,731 from “all other compensation.” That’s a total of $878,885.
She also has millions in stock options that have not yet vested, according to the S-1—347,424 unearned shares with an estimated market value of $12,865,111. A WeWork representative declined to comment on Berrent’s compensation package and role at the company.
Berrent is one of three named executive officers on the We Co.’s S-1 filing, alongside chief financial officer and co-president Artie Minson and chief executive officer and chairman of the board Adam Neumann. Based on the S-1 filing, Berrent earned the highest cash pay of the three.
She joined the New York-based company in 2014 as chief culture officer and CLO. In July 2017, Berrent took on the additional chief operating officer role. Eugen Miropolski replaced Berrent as COO in April while she stayed on as legal chief.
Before joining the We Co., Berrent worked as associate general counsel of Longitude Inc., an associate at Covington & Burling and a partner at Wilmer Cutler Pickering Hale and Dorr, where she led the New York emerging company practice group. She earned her J.D. at New York University School of Law.
Wednesday’s S-1 filing also detailed potential legal risks WeWork faces, including discrimination or harassment claims and other employment matters, a rising number of privacy regulations and infringement of their trademark. Much of WeWork’s current legal spend relates to buying and leasing work spaces.
Teams from Skadden, Arps, Slate, Meagher & Flom and Simpson Thacher & Bartlett are advising the We Co. on its initial public offering.
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