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Michael Rapino, Other Live Nation Execs Forfeit Bonuses

Stay Nation President Joe Berchtold and chief monetary officer Kathy Willard additionally forfeited restricted inventory right this moment as a result of income miss. A spokesperson for Stay Nation instructed Billboard that common inventory and money funds have been additionally diminished as a part of the adjustment. In April, Rapino introduced he was lowering his wage to $0 as a part of a cost-savings initiative on the firm introduced on by the pandemic.

In 2019, the corporate’s compensation committee agreed to pay Rapino a $6 million money bonus if the corporate achieved an adjusted working revenue of  $875.0 million, and between $6 to $12 million if he hit between 100% and 110% of the AOI goal. Rapino ended up hitting 109% of his goal AOI ($942 million) for a money award of $11.4 million, which he deferred till the top of 2020. The ultimate breakdown detailing what Rapino took in money and inventory choices will probably be detailed later this month in Stay Nation’s annual proxy assertion.

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