Live Nation CEO Michael Rapino has inked a new five-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.
The deal includes a significant increase in compensation for Rapino, with an annual target payday of 30 million if performance metrics are met (the actual number could be higher or lower, depending on the company’s performance).
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.