Annual Salary: $550,000. Bonus: $1.5 million. Paid Relocation: $330,000
How’s Peter Moore feeling? Priceless.
Gamedaily reports that that EA is spending nearly $2.4 million in welcoming Mr. Peter Moore. In case you haven’t heard, Microsoft’s head of marketing is stepping down to be the president of EA Sports.
According to the newest Form 8-K filed by EA with the Securities and Exchange Commission (SEC), a one-time signing bonus of $1.5 million ‘in recognition of the future compensation value he would be forgoing by leaving his position at Microsoft’ was stated by EA. Also, an annual base salary of $550,000 was included.
Peter Moore will receive the $1.5 million within 30 days of starting employment at EA, although the filing said that he won’t get it after two full years. But, if for some reason Mr. Moore voluntarily leaves EA before those two years, he’ll have to ‘repay’ EA the full amount.
But Peter Moore’s salary extravaganza doesn’t end there. EA is also providing Moore with a stock option to purchase 350,000 shares of the company’s common stock pursuant to EA’s 2000 Equity Incentive Plan. According to Gamedaily, the filing explained:
"The stock option will vest as to 24% of the shares twelve months from the first day of the month in which the grant is made, and will then vest in additional 2% increments each month thereafter for the follwing 38 months’
Translation: $$$. EA will also provided Moore with 50,000 restricted stock units, ‘which vest as to 50% of the shares on the second anniversary of the grant date, and as to the remaining shares on the fourth anniversary of the grant date.’
And to top everything off, EA intends to assist Moore with relocation expenses, costing around $330,000. But similar to the bonus, if Moore decides to voluntarily leave, he has pay back EA with the same amount. We advise you to stay sir…hell, we would!
So with Peter Moore’s salary exceeding the current US president’s salary, we’re quite sure he’s getting a bit comfortable at EA. Also, he can now afford a lot more tattoos. Marketing FTW!