Activision CEO Kotick Takes $55 Million Compensation CutCliff Edwards
Bobby Kotick took a $55 million cut in compensation in 2013, the year he gained control of the video-game maker Activision Blizzard Inc.
Kotick, 51, collected $10 million in salary, bonuses and other compensation in 2013, according to a regulatory filing yesterday by the Santa Monica, California-based company.
That marked a drop from $64.9 million in 2012, when most of the compensation for Kotick, the company’s long-serving chief executive officer, came in stock awards that vest over five years. He received no such grants in 2011 and $1.9 million in 2010. Regulators require companies to report stock awards in the year they’re given.
The company, the largest U.S. video-game publisher, gained autonomy from majority shareholder Vivendi SA after buying back $5.83 billion of its stock from the Paris-based conglomerate last year. Investors led by Kotick also paid $2.34 billion for about 25 percent of Activision.
Activision fell 3.4 percent to $19.40 yesterday in New York. The stock has risen 9 percent this year.