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.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2524523, ~/Articles/ArticleHandler.aspx, 9/30/2016 8:18:50 AM

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...

Today's Market

updated 11 hours ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 4:00 PM
ZNGA $2.81 Down -0.01 -0.35%
Zynga CAPS Rating: *