Activision Blizzard CEO Bobby Kotick's Pay Cut

A recent Form 8-K filing from Activision Blizzard reveals that CEO Bobby Kotick has agreed to voluntarily reduce his salary and bonuses by 50%. As breaks it down, it's a little more complicated than it sounds at first. Either way, Bobby probably still won't have to worry about clipping coupons:
As noted in a recent filing, Kotick's agreed-upon base salary has been voluntarily reduced by 50% to align with company targets. This equates to a $875,000 reduction.

In line with this, Kotick has also agreed to reduce his target annual bonus by 50%, a potential reduction of $1.75 million for fiscal years 2021 and 2022.

However, Kotick is still eligible to earn up to 200% of the reduced base salary, due to exceptional factors detailed in an extension amendment.

The amendment notes that under Kotick's leadership, Activision Blizzard's market capitalisation has increased from less than $10 million to over $70 billion, with an 8,100% increase in shareholder return between 2000 and 2020.