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Thursday, April 26, 2012

Irving & Mike's 2011 salaries/bonues

NICE WORK IF YOU CAN GET IT: Live Nation chief Michael Rapino made $11.9 million last year, but that was a 25% decline from 2010, when his pay included $6.4 million worth of bonuses and stock grants related to LN's all-stock acquisition of Ticketmaster, the Wall Street Journal reported, citing an April 25 SEC filing. Azoff received $34.6 million in 2011, up from $22.8 million in 2010. Of last year's total, $25.1 million came about because Live Nation in acquired Azoff’s Front Line Management. Several other senior execs at LN also saw their compensation decline in 2011, thanks to large stock grants or bonuses they had received in 2010, following the merger. The proxy also discloses that Rapino would be entitled to nearly $45.5 million in cash, equity and tax "gross-up" payments if he were terminated as CEO, with or without cause, or if there were a change in control of the company. (4/26a)

 
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