EA CEO's Salary Dropping to $19 Million
How will he ever get by?
It seems like everyone's feeling the effect of less pay with higher prices, and that includes CEOs. Just look at what recently happened to Electronic Arts CEO Andrew Wilson. In 2021, he took home pay of $39.2 million. For the most recent year ending in March 2022, he brought home just $19.9 million. While it's unclear how he'll manage to survive with only managing to make just under $20 million, our thoughts are with him at this time.
The Drop Comes at the Request of Shareholders
For 2021, Wilson saw a pay drop due to a decision from shareholders to lower executive bonuses. However, people shouldn't feel too bad for the guy just yet.
According to a new file spotted by Axios, Wilson still received a sizable stock grant to the tune of $30 million. The company's board of directors stated it was "in the best interest of stockholders given the heightened competition for top executive talent and the need to continue to retain and motivate Mr. Wilson."
The firm has committed to not granting any equity awards to named executive officers until the fiscal year ending in 2026. The report also points out the target value of Wilson's equity award for 2022 was 40% lower than in 2021. It will not increase in 2023.
It's part of a recent trend to pull back on the number of bonuses these CEOs take home. Activision CEO Bobby Kotich was due to receive a compensation package worth $154.6 million, but shareholders pushed back on it. It's also possible Kotick could acquire a separate $15 million if he's let go after Microsoft buys out Activision due to a "golden parachute" clause in his contract.
Do you think it's fair what these CEOs are paid?
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