Zynga CEO Lowers His 2013 Pay to $1.00
At the request of Zynga founder, CEO, and chief product officer Mark Pincus, the board of directors has agreed to reduce Pincus' salary to $1, and he will not be eligible to participate in the cash bonus or equity award programs in 2013, according to a recent SEC filing. Zynga has not shared its executive's 2012 compensation; however, in 2011 Pincus was paid a $300,000 salary, and received bonus and equity awards raising his total pay to $1.68 million for the year.
The six other Zynga executives listed in the SEC filing, in addition to Pincus, are scheduled to earn between $1.4 million and $2.27 million in 2013, assuming 100% of company performance objectives are met. Dependent upon results, the Zynga board has the option to pay much as 200% of each executive's performance and cash bonus awards.
The article Zynga CEO Lowers His 2013 Pay to $1.00 originally appeared on Fool.com.Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.