Activision COO Gets Big Raise, Bonus, And Lots Of Stock
Being a lead executive in a company the size of Activision equates to big dollars.
According to GameSpot, Activision Blizzard Chief Operating Officer Thomas Tippl has received a raise. SEC documents filed last week reveal that as part of a contract extension, his base salary has gone from $885,000 to $1.25 million. Said the publisher:
"Mr. Tippl has demonstrated excellence in his role as Chief Operating Officer, successfully overseeing Activision Publishing’s and Blizzard Entertainment’s operational activities, as well as the Company’s Strategic Planning, Global Sales and Supply Chain, Legal, and Human Resources departments."
He's also eligible for an annual bonus with a target amount of 150 percent of that base salary, which translates to $1.875 million. But that's not all. Tipple will also get a full payment of the remaining $2 million portion of the discretionary bonus awarded to him in March 2013 on or before January 30, 2014. Tippl will receive $6 million worth of Activision Blizzard shares on February 10, along with three separate performance-vesting share units. Each unit, valued at millions each, is contingent upon the publisher meeting or exceeding non-GAAP earnings per share objectives.
Activision can't terminate Tippl based on "performance deficiency," either, though they do retain the right to fire him for "cause." All of this sounds like a pretty sweet deal, wouldn't you say? I'm willing to bet Activision may not hit all their goals in the coming year, but that doesn't necessarily mean Tippl is going begging, now does it?
1/21/2014 10:51:55 AM Ben Dutka