David Baszucki's inventory grants are tied to Roblox's long-term efficiency.
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The highest 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 yr. However the largest portion of his compensation got here within the type of inventory choices.
Greater than $232 million in compensation stems from restricted inventory models which can be tied to Roblox’s long-term efficiency. Roblox’s proxy submitting notes award requires “substantial share value progress over a five-year efficiency interval” to completely vest.
The corporate famous Baszucki’s wage was adjusted to $0 in March 2021, with the inventory plan comprising the whole lot of his direct compensation by way of 2027.
The inventory grants are divided into seven tranches from 2023 by way of 2028. Baszucki will obtain awards if Roblox’s common inventory value 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 firm went public by way of a direct itemizing in March 2021.
Roblox stated its compensation committee “was intent on establishing an award that may align Mr. Baszucki’s long-term pursuits with these of stockholders, would require important and sustained firm efficiency, and discourages short-term danger taking to attain short-term efficiency.”
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 within the nation, with earnings that outstripped a few of the tech sector’s most notable names.
For instance, Apple CEO Tim Prepare dinner took residence about $98 million final yr – 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 within the firm’s prime function.
In each of these circumstances, the pay packages had been largely tied to inventory grants.
Roblox’s platform had greater than 45 million every day energetic customers in fiscal 2021, in line with its proxy submitting. The corporate operates as a free service that hosts user-created video games.
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