Endeavor Boss Ari Emanuel’s 2021 Pay Surged To $308M After Company’s IPO; $67.5M Of It Deemed “Recognized Compensation” – CB

Endeavor CEO Ari Emanuel’s 2021 compensation reached $308.2 million, at the very least on paper, because of the corporate’s preliminary public providing final April.

In a part of a set of SEC filings launched Wednesday night as the corporate reported fourth-quarter monetary outcomes, Endeavor mentioned the “acknowledged compensation” was nearer to $67 million.

As with Discovery CEO David Zaslav, whose pay package deal was reported final week at $246.6 million, together with a large inventory award, Emanuel’s potential payday, if achieved, would place him on the excessive finish of media and even throughout all of company America. Not all firms have completed reporting govt compensation for final 12 months.

Govt chairman Patrick Whitesell’s whole compensation was $123.1 million, although the identical caveats apply as with Emanuel. Most of his pay is tied to post-IPO inventory efficiency, and his acknowledged compensation was $11 million.

Endeavor shares rose 7% in the present day, closing at $29.80. Whereas the inventory hit an all-time excessive above $35 final December, it has largely traded within the $27 to $29 vary because the IPO.

Emanuel and Whitesell every earned a base wage of $4 million and Emanuel’s annual bonus was $6 million. The overwhelming majority of each execs’ pay is in inventory, with awards pegged to sure milestones reached by the shares.

Within the submitting, Endeavor mentioned it intends to “present for significant alignment between the compensation for our named govt officers and worth for our stockholders.” In assist of that effort, it added, “a considerable portion of the pay delivered to named govt officers is at-risk and is within the type of annual money incentive bonuses, inventory choices and restricted inventory items. Particularly, our CEO and Govt Chairman obtained sure one-time performance-vesting restricted inventory unit awards” tied to the IPO and execs’ long-term employment.

“Whereas such awards might end in substantial compensation to our executives, we consider they additional align our CEO and Govt Chairman with our shareholders’ pursuits,” the submitting added.

The submitting units out a collection of milestones tied to inventory efficiency, explaining, “We consider such efficiency metrics, along with the continued service requirement thereafter, are applicable to drive administration whereas remaining at difficult ranges to guarantee correct alignment between pay and efficiency.”