Zynga CEO will draw $1 salary in 2013

Salary for top executive at social game studio reduced to $1, but rest of management team could earn millions thanks to new compensation program.

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Zynga founder and CEO Mark Pincus will draw a $1 salary in 2013 and won't be eligible for the company's cash bonus or equity program, according to a new Securities & Exchange Commission filing (via Inside Social Games).

No specific reason for Pincus' pay cut was provided, though it comes after a year when the social game studio saw numerous executive departures, studio closures and layoffs, as well as an overall $209 million loss. In addition, Bloomberg named Pincus one of the "worst CEOs of 2012."

Pincus won't be living on the curb anytime soon, as Forbes estimates his net worth at $1.8 billion.

Apple cofounder Steve Jobs was also paid a $1 annual salary.

Though Pincus will see his salary cut in 2013, other top brass at Zynga will have the opportunity to make more than ever before thanks to a new executive compensation program. Annual base salaries for six other executives are $425,000 and $500,000, with further performance-based bonuses totaling 100 percent of their salaries.

A chart detailing the new compensation program is available here.

As outlined in the SEC document, the purpose of the new executive compensation program is to retain and motivate executives and to align executive pay structure with that of the company's overall performance-based incentives.

"We believe that by focusing on both retention and performance, the compensation packages align with our strategy to build value for our stockholders," Zynga said in a statement.

Discussion

114 comments
leviathanwing
leviathanwing

yeah for the extremely low, historical... or is that hysterical low capital gains tax... im not buying this fake pr stunt.  steve jobs fooled so many idiots back in the day with this stunt lets hope no one is fooled anymore.

deftond
deftond

THIS IS A REASON GAMES SHOULD COST LESS!! Look how much these people make!1  Wtf.  I have been making 22,000 a year You think I have $60 to buy all these games?  Shit they are making hundreds of thousands of dollars. How about you pay these guys less and drop the prices of your games.  You can pay someone less who would llove the chance to do better.

Gravity_Slave
Gravity_Slave

God I hate fake sappy rich ppl.  They think they're some martyr because they can shy away from a 7 figure salary for a year.  What most people don't understand is that him being a CEO, he can dictate his salary in both directions.  Who's to say next year he doesn't double it after his "good will" stint? 

I know I'd like to decide how much I make based on company profits. 

wanderz
wanderz

ok, so he took a $1 salary... how much did he get in bonuses?  not to mention already having a "worth of 1.8 Billion"

if you are trying to buy good will towards yourself and your company (which is the only reason he'd do something like this) how about sharing the wealth, or at least donating some to charity.

91210user
91210user

Yeah but that's what he wanted thou anyways! Who here wants to be a CEO for some loser video game company when you can be a CEO for the medical industry or something?


Everyone in business wanted this... I mean it's a wasted space to be called the Worst CEO of 2012 on one of the most biggest business news channels in the world.

xonar99
xonar99

Purely symbolic, just to give us non-billionaires a sense of "un-jelly". In all honesty, the guy worked for his fortune.  Agreeing with  it or not isn't a factor here.

Master_Happosai
Master_Happosai

It's all thanks to these guys that your wife or mom isn't making you dinner right now. Please shut Zygna down!

frylock616
frylock616

I hate whenever Big Corporate guys say or have shit like this reported "His salary this year was only 1$!!!!!" while he is sitting on a few million.......your still a rich scumbag working for a shitty scumbag company. Telling me your bullshit lie that your salary this year was only 1$, while you have millions of dollars doesn't make you look good at all.

MrOrbitz
MrOrbitz

Well, like it said in the article, he's currently sitting on 1.8 billion dollars in the bank.. The average person could have half of that and never need to work again, AND STILL have enough left over after they die to send the next couple generations of their family through school. 

Boo Hoo.

axelx666
axelx666

If it was the 1950's a dollar could get you a long way..

in today's day and age, YOU CAN'T EVEN BUY A DAMN COKE.

TheOnlyConan
TheOnlyConan

$1 salary and 2 million (+) in bonuses. Typical corporate hoonanny.

PresidentDman
PresidentDman

Wonder what Steve Jobs is doing with his dollar.......

Kjranu
Kjranu

Reduce your salary to $1 after you've made millions, riiiight. 

Dizzy1976
Dizzy1976

Don't worry.  He'll still make millions AND get a 15% tax break because of the 1$ salary

PixelAddict
PixelAddict

He's getting paid by a microtransaction!  How fitting!

pozium
pozium

I don't believe in this $1 salary thing. They really expect me to believe that he's not getting any single dollar related to his company in any form AT ALL? even charity organizations get paid in some way and people who have too much money always want much more.

Public figures now adopts the $1 salary thing to show how humble they are in their practice

CrashOV
CrashOV

zynga CEO earns 1$ salary this year, still manages to rip-off their customer base without worries.

SicklySunStorm
SicklySunStorm

$1 salary.... wonder what his benefits are though? I almost guarantee he's got a buttload of shares given.

PotHeel
PotHeel

Wow, I knew I was in for some weird shit when I saw that pig floating outside my window this morning.

IanNottinghamX
IanNottinghamX

So Mr Potato Head Makes 1 dollar salary and millions if not billions in royalties yada yada yada am I correct...when these facts are blown up its usually the case where thats true....

JBStone1981
JBStone1981

Know what's messed up? I actually SAW the word "million" beside that $1. My mind was so expecting it to be a million, it literally projected in on the screen. 

Wait...am I going crazy?

bluefox755
bluefox755

Kind of dumb on his part, unless he's investing the savings back into the company, that would be smart.  But yeah, this is all PR, he makes most of his money off capital investments anyway.

grasshopper6
grasshopper6

I liked their games till they started F*#&ing so bad that I could play them once a week where they would load and work fine without telling me to refresh so I'm done with  you zynga thank GOD for EA's sim city social 

tightwad34
tightwad34

Maybe there's a small chance he's paying himself less so they can hire better devs and make something decent. Either way, he'll still make way more than most of us.

Daian
Daian

That's 1$ more than he deserves.

sevenwarlocks
sevenwarlocks

If the world ever decides to publicly  hang, draw, and quarter this guy, I'll be there selling hot dogs.

EFXREX
EFXREX

@deftond 22,000? have you finished high school?

RAGEofSTUNTS
RAGEofSTUNTS

@wanderz Net worth of 1.8 Billion is not like he walks around with bank card with all that money, most of it is based off of stocks.

PERVERTOR
PERVERTOR

@wanderz "won't be eligible for the company's cash bonus or equity program"

EFXREX
EFXREX

@xonar99 He is like US!!! just a normal person!!!  Mark Pincus for president!!!

FoxeoGames
FoxeoGames

You hate him because he's rich? So I suppose if you were to ever fall into millions of dollars, you'd give it all away to charity so that you wouldn't be a rich scumbag?  @frylock616 

TenraiSenshi
TenraiSenshi

@JBStone1981 Same thing happened to me. I had to do a double-take there. I guess our minds are just programmed to see CEO's earning in the millions.

Brean24
Brean24

@EFXREX Uh I'm in high school, if I was making 22,000 dollars a year it would awesome. Your forgetting that mininum wage is only about 10-15k a year full-time. A average high school student who goes to school regularly and works 20 hours a week with likely make half of that if they are lucky. Labor laws severely limit how much people under 18 can earn.


UncleAnesthesia
UncleAnesthesia

@FoxeoGames @frylock616 I'd give half away, the other half would be taken by the government because rich scumbags like this guy don't pay taxes and fire people for a living.

PlusFour
PlusFour

@StarSfrife @Daian You don't know? He's Daian. 

His name is Daian, Daian Daian

The bravest pioneer

No budget too steep, no sea too deep

Who's that?

It's him, Daian Daian

Daian, Daian Dian explorer of the sea

With a dying thirst to be the first

Could it be? Yeah that's him!

Daian Daian.

tightwad34
tightwad34

@PSYCHOV3N0M BBQ sauce on a hot dog, huh? Sounds very interesting and kind of good. Never even thought about it before.

tightwad34
tightwad34

@PSYCHOV3N0M I will try it the next time I have a hot dog. I actually haven't had one in a long time, so I am probably due for some.