Mattel Awards CEO Ynon Kreiz $15 Million Stock Grant Following 'Barbie' Film Success
Introduction
In a move highlighting CEO Ynon Kreiz’s pivotal role in Mattel’s recent success, the toy company has granted him a $15 million stock retention grant. This award comes on the heels of the company’s significant achievements in film and television, including the blockbuster success of the Barbie movie.
Details of the Stock Retention Grant
Mattel’s board issued the Retention Performance Grant to Kreiz earlier this week, reflecting his instrumental role in transforming the company into a leader in intellectual property (IP)-driven toys and expanding its entertainment ventures. According to an SEC filing released on Friday, the grant will vest over five years, contingent on achieving specific performance metrics.
The filing emphasizes Kreiz’s leadership as a critical element of Mattel’s continued success and growth. It highlights his contribution to the company’s shift towards a more robust entertainment focus, including successful ventures with Mattel Films and Mattel Television Studios.
Impact of ‘Barbie’ and Future Projects
The grant follows the major success of the Barbie film, which was one of last year’s top-grossing movies. Mattel’s film and television projects have expanded significantly under Kreiz’s leadership. The company is currently collaborating with Paramount on an American Girl film and with Universal on a Monsters High film.
Performance Metrics and Compensation
The $15 million grant’s value is contingent on performance factors such as Mattel’s share price and total stockholder return. Kreiz’s total compensation for 2023 amounted to $18.9 million, including this recent stock grant.
Conclusion
Mattel’s decision to grant Ynon Kreiz a substantial stock retention award underscores the company’s recognition of his pivotal role in driving its entertainment strategy and overall success. As Mattel continues to capitalize on its IP and entertainment ventures, Kreiz’s leadership remains central to the company’s growth trajectory.