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Zynga CEO Lowers His 2013 Pay to $1.00

By Tim Brugger - Apr 5, 2013 at 8:55PM

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In an effort to cut costs, the founder of the online game developer requests a pay cut, and the board agrees.

At the request of Zynga (NASDAQ: ZNGA) 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. 

 

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