Zynga has filed a regulatory report revealing incoming CEO Don Mattrick's salary anf compensation package for leaving Microsoft. Although his bonus will vary based on the company's performance, he gets as much as $ 46 million dollars just for showing up.
Mattrick will get a base salary of $ 1 million. He also gets a $ 2 million cash bonus and a $ 5 million signing bonus. Finally, he gets $ 11 million in vested stock as a 'make-whole' package to compensate for the amount of stocks he had given up for leaving Microsoft
In the following years, his salary will be dependent on how he does as CEO. Specifically, his annual cash bonus can range between $ 2 to 4 million, based on whether he meets his performance targets and at the discretion of the company. He will get $ 11 million in the next financial year, $ 3 million the year after that, and $ 2 million more for each of the following two years as part of his 'make-whole' package. Furthermore, he has the opportunity to get even more compensation in terms of 'make-whole' and inducement grants, again all at the board's discretion.
As we know, Mattrick's entry as CEO is timed with the company's founder Marc Pincus stepping down from this position. The document reveals, in addition, that Owen Van Natta has left the board of directors, effectively leaving the company, to make way.
Owen Van Natta was previously Zynga's chief financial officer, resigning that position to join the board at 2010. Before that he had executive positions in Myspace and Facebook.
