Zynga Gives Mattrick $5 Million Sign-On Bonus
Zynga's new CEO, Don Mattrick, will receive a $5 million "sign-on bonus," according to SEC filings submitted by the company this week.
According to the filing, Mattrick's base salary will clock in at just $1 million, but his 2013 guaranteed minimum bonus will be either $2 million or the average percentage bonus of Zynga's other executive officers applied to his base salary, whichever is largest, with the bonus pro-rated for how many days he is on board in the fiscal year, which ends Dec. 30. For fiscal year 2014, he will be eligible for an annual bonus with a target amount of 200% of base salary and a maximum amount of 400% of base salary.
In addition to the $5 million sign-on perk, annual salary, and annual bonus , the new CEO could also receive around $40 million in Zynga shares over the course of the next three to five years.
Zynga founder and former CEO Mark Pincus said in a July 1 statement that he is "excited to partner with Don and the rest of our team to return Zynga to its leadership role in inventing and growing Play as a core human experience." Pincus will stay on as chairman of the board and chief product officer.
The article Zynga Gives Mattrick $5 Million Sign-On Bonus originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo. The Motley Fool owns shares of Microsoft. 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.
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