Mattel has given CEO Inon Kreitz a special $15 million stock grant, fueled by the company’s success in film and television.
Mattel’s board of directors presented the retention achievement award earlier this week, and the company noted in an SEC filing on Friday that the importance of his continued leadership at the company was a key factor in the award.
“The Committee believes that Mr. Kreitz’s leadership is a key component to the Company’s continued success and growth potential, and that Mr. Kreitz continues to be a driving force behind the Company’s transformation into an IP-driven toy business that expands its entertainment offerings,” the filing said.
The filing notes the company’s financial performance and growth in toy sales, but also highlights its success in entertainment through Mattel Films and Mattel Television Studios.
Mattel, of course, produced the Barbie movies, which were one of last year’s biggest hits. The company is also producing the American Girl movies with Paramount and the Monsters High movies with Universal.
The target amount of the grant is $15 million, but the exact number of shares received will depend on Mattel’s stock price, total shareholder return and other performance factors.
Kreitz’s total compensation for 2023 will be $18.9 million.
