The prime boss at online game agency Roblox earned a whopping $233 million in complete compensation in 2021 – a nine-figure sum that ranked among the many most profitable paydays for any government.
Roblox CEO and co-founder David Baszucki’s windfall included $136,364 in base pay, down from $500,000 the earlier year. But the most important portion of his compensation got here in the type of stock choices.
More than $232 million in compensation stems from restricted stock models which can be tied to Roblox’s long-term efficiency. Roblox’s proxy filing notes award requires “substantial share price growth over a five-year performance period” to totally vest.
The company famous Baszucki’s wage was adjusted to $0 in March 2021, with the stock plan comprising the whole lot of his direct compensation by way of 2027.
The stock grants are divided into seven tranches from 2023 by way of 2028. Baszucki will obtain awards if Roblox’s common stock worth over a 90-day interval exceeds particular targets, starting at $165 in March 2023 and working by way of $375 by way of March 2026.
Roblox Corp. shares had been buying and selling at roughly $49 as of Tuesday and are down about 30% because the company went public by way of a direct itemizing in March 2021.
Roblox stated its compensation committee “was intent on establishing an award that would align Mr. Baszucki’s long-term interests with those of stockholders, would require significant and sustained company performance, and discourages short-term risk taking to achieve short-term performance.”
Baszucki additionally earned a further $465,027 in different compensation, together with greater than $120,000 in safety bills and journey bills totaling almost $200,000, together with chartered flights.
Baszucki’s payday established him as one of many best-compensated executives in the nation, with earnings that outstripped a number of the tech sector’s most notable names.
For instance, Apple CEO Tim Cook took house about $98 million final year – a pay bundle that drew some criticism from the iPhone maker’s shareholders. And Amazon CEO Andy Jassy earned about $212 million after succeeding Jeff Bezos in the company’s prime position.
In each of these circumstances, the pay packages had been largely tied to stock grants.
Roblox’s platform had greater than 45 million every day lively customers in fiscal 2021, in accordance with its proxy submitting. The company operates as a free service that hosts user-created video games.