Rentrak CEO Livek to Get $15 Million Payout With ComScore Dealby and
Deal would accelerate vesting of Livek's 10-year stock plan
Rentrak's COO to get $11.5 million after $800 million sale
Rentrak Corp. Chief Executive Officer William Livek would get an almost $15 million payout of cash and stock with the company’s sale to Internet researcher ComScore Inc., according to a securities filing.
ComScore announced plans in September to buy Rentrak, best known for reporting movie box-office results, in an all-stock deal valued at $800 million to create a more formidable rival to Nielsen Holdings Plc. Completing the transaction would let Livek, 61, collect a package of stock created last year, rather than on a 10-year vesting schedule.
Livek’s payout, which is subject to an advisory vote of shareholders during a Jan. 28 meeting in Portland, Oregon, includes 233,694 restricted-stock units valued at $13.4 million and $1.5 million in cash, according to the filing.
Shareholders of both companies also will vote that day on the merger plan. Livek will be vice chairman and president of the new company. ComScore CEO Serge Matta will lead the combined company.
Rentrak Chief Operating Officer David Chemerow, 64, will receive $10.1 million in restricted-stock grants and $1.4 million in cash, according to the filing. Under the merger agreement, Chemerow will be ComScore chief revenue officer for one year.