Feeds

Zynga lures Microsoft's gaming chief with bulging package

Ex-Xboxer gets $50m payout to take CEO spot at game firm

High performance access to file storage

Shiny new Zynga chief Don Mattrick will get a hefty package when he joins the firm next week, with around $50m hitting his bank account in the next few years.

The firm said in a regulatory filing that Mattrick, who's leaving his job as head of Microsoft's Xbox business to join the mobile gaming biz, will get a base salary of $1m in his first year, along with a signing bonus of $5m and a 2013 bonus of $2m.

Because he lost a load of shares by leaving Redmond, the new chief will also get around nine million restricted stock units that he can cash in over the next three years - currently worth around $30m.

Over 45 per cent of those shares will vest in his first year, boosting his total take-home pay to around $19m if the share price sticks around same level as on 26 June.

Stocks have been rising all week on the hopes that Mattrick will be able to turn things around at the firm most famous for the Farmville games. The share price is currently 18 per cent higher than it was at the start of the week, at $3.42.

Mattrick is also getting an inducement grant of over 1.7 million restricted stock units with a target value of $5m and an option to buy 7.4 million more shares with a target value of $10m that will vest at the end of his third, fourth and fifth terms of employment. On top of all that, if the company is pleased with him, he'll get new stock with a target value of $7m in 2014 and may get the same bonus again in the following years. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Analysts: Bright future for smartphones, tablets, wearables
There's plenty of good money to be made if you stay out of the PC market
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.