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
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.