EA investors reject exorbitant million-dollar bonuses for executives

74% of active Electronic Arts voters rejected the massive executive stock bonus compensation packages worth tens of millions.

@DeekeTweak
Published Tue, Aug 11 2020 5:43 PM CDT   |   Updated Wed, Aug 12 2020 12:44 PM CDT

EA shareholders have voted against a robust stock compensation package for executives worth tens of millions of dollars.

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For the first time in years, EA investors seem to agree that company execs are overpaid. A new SEC form 8K filing confirms EA investors shot down an exorbitant bonus package for the company's top brass in a say-on-pay vote. The existing plan would've awarded EA execs like CEO Andrew Wilson and CFO Blake Jorgensen over $16 million in bonus stock.

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The overwhelming majority of active voters were against the plan. 74% of active voters, or 170 million out of the 230.5 million that voted, said no to the compensation payouts. But say-on-pay votes don't actually block the remuneration plans, and the board of directors could still deliver the payouts to EA executives.

This vote comes on the heels of a tremendously strong Q1 period for EA where monetization broke $1 billion and game sales were up triple digits to 202%.

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The vote also comes more than a year after reports that EA CEO Andrew Wilson's salary is 371 times that of a normal worker's.

That being said, investors are clearly happy with Wilson's leadership, and rightly so given the strong year-over-year shareholder returns. None of the top executives have been voted out. But the majority of active voters agree that the packages are simply too high.

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Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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