Zynga Gives Mattrick $5 Million Sign-On Bonus

Zynga's (NASDAQ: ZNGA  ) new CEO, Don Mattrick, will receive a $5 million "sign-on bonus," according to SEC filings submitted by the company this week.

Mattrick is joining Zynga from his previous job as Microsoft's Xbox division head, and Zynga shares have made a major recovery on the news.

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.


Read/Post Comments (2) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Add your comment.

DocumentId: 2524523, ~/Articles/ArticleHandler.aspx, 7/31/2014 1:56:17 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...