Electronic Arts jacks up leaders’ pay to retain key talent
Electronic Arts is spending up with an end goal to clutch popularity ability.
The organization quadrupled pay for creation boss Patrick Soderlund to $48.4M, making him EA’s most generously compensated pioneer.
In the interim, CEO Andrew Wilson got $35.7M in all out pay, up 79% Y/Y.
Four administrators got extraordinary execution stock honors of $7M-$15M in monetary 2018. The board discovered that “boosting and holding these key officials was basic to the organization’s proceeded with solid development and achievement.”
Patrick Soderlund, who runs EA Worldwide Studios, was the highest paid of the company’s leaders, receiving equity awards totaling $46.3 million, while Chief Executive Officer Andrew Wilson received $35.7 million in total pay, a 79 percent increase from a year earlier, the Redwood City, California-based company said Friday in a regulatory filing. The increases resulted from special equity awards in recognition of the firm’s financial performance over the past four years.
The board “determined that incentivizing and retaining these key executives was critical to the company’s continued strong growth and success,” according to the filing.
Four of the company executives received the special performance stock awards ranging $7 million to $15 million in fiscal 2018, with Soderlund getting an additional $22.9 million for his “key role” in overseeing game development. EA’s stock has climbed 572 percent in the past five years, compared with the 152 percent advance of the S&P 500 Information Technology Index.
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