CEO Michael Rapino has inked a new 5-year contract extension with the live events giant and owner of Ticketmaster and Roc Nation, keeping him at the helm of the company through the end of 2027.
Rapino’s salary remains unchanged from his last contract at $3 million per year, but the annual target cash bonus is being bumped from $6 million per year under the prior deal to $17 million per year under the new deal. Beginning in 2023, Rapino will also be eligible for an annual grant of restricted shares valued at no less than $10 million. For both the RSUs and the cash bonus, performance metrics will be used to calculate the final payout.
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