Citing ‘Barbie’ Success, Mattel Gives CEO Ynon Kreiz a $15M Stock Retention Grant

Mattel has issued a particular $15 million inventory grant to CEO Ynon Kreiz, citing his success in movie and TV as a driving issue.

Mattel’s board issued the Retention Efficiency Grant earlier this week, with the corporate writing in an SEC submitting Friday that the significance of his continued management on the firm was a key issue within the grant.

“The Committee believes that Mr. Kreiz’s leadership is a key factor for the Company’s ongoing success and growth potential and that Mr. Kreiz has been and continues to be the driving force behind the Company’s transformation to become an IP-driven toy business with an expanding entertainment offering,” the submitting states.

Whereas the submitting notes the corporate’s monetary efficiency and progress in toy gross sales, it additionally makes a level of calling out Mattel’s success in leisure through Mattel Movies and Mattel Tv Studios.

Mattel, in fact, was behind one in all final yr’s blockbuster hits with the Barbie film. The corporate can also be working with Paramount on an American Lady movie, and with Common on a Monsters Excessive movie.

The grant has a goal worth of $15 million, although the precise variety of shares he’ll obtain will rely upon efficiency elements, together with Mattel’s share value and whole stockholder return.

Kreiz’s 2023 compensation package deal totaled $18.9 million.