Yes, Electronic Arts may have laid off 10% of its workforce and posted a billion dollar loss in recent months, but rank has its privileges, after all.
And ranking execs at EA are clearly among the privileged, based on a preliminary proxy statement filed by EA this week which lists compensation for its top officials. CEO John Riccitiello's fiscal 2009 package, which included salary, stock awards, option awards, benefits and a performance-based cash bonus, is valued at $6,365,823.
EA Sports President Peter Moore won't be brown bagging his lunch, either. EA lists Moore compensation package at $4,284,366. Here's the breakdown for Riccitiello (right) and Moore (left), EA's two most high-profile execs:
Here are Riccitiello's numbers:
- Salary - $793,749
- Bonus -
- Stock Awards - $1,055,461
- Option Awards - $4,115,305
- Non Equity Incentive Plan Compensation - $400,000
- All Other Compensation - $1,308
- TOTAL - $6,365,823
And here are Moore's (cost of game launch tattoos not included):
- Salary - $564,624
- Bonus -
- Stock Awards - $1,443,741
- Option Awards - $1,589,290
- Non Equity Incentive Plan Compensation - $200,000
- All Other Compensation - $486,711
- TOTAL - $4,284,366
The Associated Press notes that Riccitiello's incentive bonus dropped from $625,000 in fiscal 2008 to the $400,000 figure listed above. In contrast to EA's filing, the AP estimates Riccitiello's total compensation at $11.1 million, using a $9.9 million valuation on stock options.
Not bad for a crappy year.
UPDATE: gamesindustry.biz reports that an unnamed EA spokesman has taken umbrage at the Associated Press claim that Riccitiello's options are worth $11.1 million:
Their calculation is inaccurate. It includes value of performance-based shares that will vest over several years - and only if high performance hurdles are met.
As reported, it appears as though those shares are compensation for this year, which they are not. Accurately, they are an opportunity to earn shares over the coming years if company objectives are met.
The spirit of those shares is to link executive compensation to the achievement of long term financial objectives. That programme, which is in place for all of EA's top executives, is designed to align interests of shareholders and management.