Quantcast
Bobby Kotick received 8x pay increase in 2012 (Update) - Destructoid




Game database:   #ABCDEFGHIJKLMNOPQRSTUVWXYZ         ALL     Xbox One     PS4     360     PS3     WiiU     Wii     PC     3DS     DS     PS Vita     PSP     iOS     Android


Bobby Kotick received 8x pay increase in 2012 (Update)


8:30 PM on 04.27.2013
Bobby got blingBobby Kotick received 8x pay increase in 2012 (Update) photo



[Update: Kotick did not in fact receive $64.9 million (an 8x pay increase) in 2012. He received $8.33 million, as he did in 2011. Bloomberg, the source of our post, updated its article to reflect this, now pretend you understand how businesses and stocks work:

"The bulk of the increase for Kotick came in stock awards valued at $55.9 million, based on regulatory reporting rules, that were tied to a new employment agreement signed in March 2012, according to a filing yesterday by the video-game software company. While vesting stretches over five years, the awards are reported in the year of the grant. Kotick, 50, received $8.33 million in total compensation last year, filings show."

In short, Kotick is rich, just not insane "I am going to build my own Dubai on the moon, bitches!" rich.]

Activision recently submitted a regulatory filing, and one of the pieces of information immediately jumps off the page. Bobby Kotick, the company's CEO, received almost eight times more money in 2012 than he did in 2011.

Because of incentives that were tied into a new employment agreement, Kotick's annual income skyrocketed from $8.33 million in 2011 to $64.9 million in 2012. Stock awards that were valued at $55.9 million made up the vast majority of this pay bump. The raise places Kotick as the second-most highly-paid U.S. CEO of of publicly-traded companies; the CEO of Oracle Corp. holds the top spot. 

When reached for comment about Activision's filing, Nell Minow, a corporate-governance consultant at GMI Ratings admitted that Kotick's base salary and incentive structure are "richer than what's expected for the videogame sector." Minow further commented "we don't like any element of this pay package," noting that Activision hasn't been clear about how pay was determined and that stock grants aren't sufficiently tied to performance. Minow also added that "In the past, we have expressed concern about this company and its compensation practices."

Activision's Kotick Gets 8-Fold Raise Reaching Top Tier [Bloomberg]






Comments not appearing? Anti-virus apps like Avast or some browser extensions can cause this.
Easy fix: Add   [*].disqus.com   to your software's white list. Tada! Happy comments time again.

Did you know? You can now get daily or weekly email notifications when humans reply to your comments.







Activision

11:01 PM on 11.24.2014
Review: Geometry Wars 3: Dimensions

Geometry Wars games have always been, in a sense, one-dimensional. They present the player with the seemingly simple task of "shoot everything in sight," and that's the sole objective apart from staying alive. The onslau...more



3:00 PM on 11.21.2014
Destiny expansion video teases what players will find in The Dark Below

We have known for a little while that the first expansion to Destiny would be called The Dark Below, and that it would add a healthy-sounding chunk of content. Bungie has now released a trailer showing off the moon excavatio...more



4:00 PM on 11.17.2014
Review in Progress: World of Warcraft: Warlords of Draenor

I've been playing World of Warcraft off and on since it launched in 2004, but the Burning Crusade expansion came at the perfect time in my life. Throughout the years I've been dabbling in the other expansions, ...more



View all Activision






Back to Top




All content is yours to recycle through our Creative Commons License permitting non-commercial sharing requiring attribution. Our communities are obsessed with videoGames, movies, anime, and toys.

Living the dream since March 16, 2006

Advertising on destructoid is available: Please contact them to learn more