In a new filing with the SEC, Mattrick's pay package has been detailed.
Read my Forbes blog here.
"From the very beginning Zynga has been a company optimized for short-term gains writes Om Malik.
Mattrick (left) and Pincus (right) comprise Zynga's new two-person Executive Committee.All told, a reasonably handsome pay package for a new CEO of a company that has lost hundreds of millions over the past two years.The next year follows a similar trajectory.We have ratings, but no written reviews for this, yet.Mark Pincus to right a sinking ship, as Zynga (znga) shares have fallen drastically since the company's 2011 IPO.Even if peak bonus translate he stays employed, the agreement guarantees him most of his stock and option awards if he no longer reports directly to the board or stops being CEO likely scenarios if Zynga is ultimately bought by a larger company or if Pincus votes his."You're not smarter than your competitor.SF Weekly with several former Zynga workers indicate that the practice of stealing other companies' game ideas and then using Zynga's market clout to crowd out the games' originators was business as usual.What was Zynga's secret?In Mattrick's first year with Zynga he will bring in a 5 million cash signing bonus, 1 million salary, a 2 million cash bonus, and 11 million in vested stock-part of a "make-whole" package designed to compensate him for lost Microsoft shares.(Mattrick would also get 6 million to 8 million cash severance for losing his job after a deal.) This scenario would hardly be surprising.Writes Francis: One way he could collect even faster is if he manages to sell the company.
Thanks, we'll look into this.
95 million over five years may sound like an enormous pay package for someone working at a company bleeding both active users and dollars.
Zynga shares have been up each day since the management change was announced, but that optimism needs to see results quickly in order to be sustained.