CtW Investment Group has turned its gaze to EA, whose executives it says are paid an excessive amount of.
The CtW Investment Group, which made headlines final month for saying that Activision CEO, Bobby Kotick, is paid too much, and asking shareholders to vote in opposition to giving the writer full say in setting his compensation, is now asking the identical from EA‘s shareholders.
In a letter to shareholders, the group referred to as out the bonuses EA paid CFO Blake Jorgensen and CTO Kenneth Moss, regardless of final yr’s layoffs and below-target annual efficiency.
“While shareholders have benefited from appreciation in the company’s stock price over the long term, we believe that these gains do not permit the company to indiscriminately pay its executives,” the letter notes.
The investor took difficulty with EA’s “excessive” fairness (shares) granting program, which it says is liable for incomes executives these bonuses “before the performance period for a previous special award has even finished.”
The submitting says Jorgensen acquired a $10 million particular fairness grant on high his $6.5 million annual grant in January 2017, whereas Moss acquired $7 million on high of his $5.5 million greenback annual award.
“Electronic Arts appears to be developing a special award grant addiction. The company has seen fit to grant some executives yet another retention award in fiscal 2020 after already granting them one in fiscal 2018, even when the performance period for the first special award has yet to conclude,” famous CtW.
As such, CtW is asking shareholders to additionally vote in opposition to the Say On Pay proposal, which EA will talk about at its subsequent annual assembly in August.
