Electronic Arts’ executives might need to make do without a few million extra dollars in their bank accounts this year. As we reported last month, investment group CtW made overtures to EA’s stockholders to reject the company’s recent compensation plans for its top executives. Previously, it did the same with Activision-Blizzard’s executive compensation, and while that didn’t garner a majority of votes, things were different this time around.
Seeking Alpha is reporting that the vote on EA executive compensation drew 170.89 million votes against and just 59.63 million votes for — a nearly three-to-one ratio against. The vote is only advisory, which means EA could push ahead and still compensate CEO Andrew Wilson ($21.37 million in 2020, up from $18.3m in 2019), COO/CFO Blake Jorgensen ($19.5m, up from $9.41m), and Chief Studios Officer Laura Miele ($16.1m, up from $6.95m), though it would be highly unusual to go against shareholders’ wishes.
Electronic Arts reported a 21% increase in revenue year-over-year in its most recent financial report. The named executives would receive $56.97 million in compensation if the measure is approved, up from $34.66 million in 2019, an increase of 64%.
