Penn National Gaming Inc. PENN, -0.95% Chief Executive Jay Snowden’s total compensation rocketed to $65.89 million in 2021, from just $3.90 million in 2020, as surge in the gaming and esports company’s stock led to more than $50 million worth of stock awards. In the company’s 2021 proxy statement filed late Tuesday, the company said Snowden’s base salary rose to $1.79 million in 2021 from $1.22 million in 2020, while stock awards jumped to $53.05 million from $2.43 million. The stock awards included stock price hurdle Performance Stock Awards (PSAs) valued at $19.43 million and relative Total Shareholder Return (TSR) Performance Stock Units (PSAs) of $29.26 million. The awards followed the stock’s 237.9% blast off in 2020, which was followed by a 40.0% tumbled in 2021. The stock, which fell 1.3% in morning trading Wednesday toward the lowest close since August 2020, has dropped 30.1% so far in 2022 while the S&P 500 SPX, +0.36% has lost 12.3%. Snowden’s 2021 compensation also included a total of $10.80 million worth of option awards and non-equity incentive plan compensation, after zero for both in 2020. Also, all other compensation, which includes matching contributions to a deferred compensation plan and the cost of the use of the company’s aircraft, slipped to $246,476 from $251,587.
Shares of Facebook's parent company soared in late trading Wednesday after the company hits most of Wall Street's estimates.
Tomi Kilgore is MarketWatch’s deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.
source
Relacionado
