Live Nation contract sets Rapino's annual target pay at $60m or more
Live Nation's new contract with chief executive Michael Rapino sets his annual target compensation at $60m or more from 2027 and keeps him in the role through 2031.
The board approved it unanimously.
Rapino abstained from the vote. The package includes a $3m salary, a $17m target cash bonus and performance restricted shares with a target of at least $10m. It also provides $15m in annual time-based restricted stock units and $15m in target annual performance share units.
Those five components total at least $60m at target. The performance share units can pay as much as 200 percent of target based on Live Nation's shareholder return relative to companies in the S&P 500.
Rapino also receives a $20m upfront restricted-stock-unit award. The agreement took effect October 1 and runs through December 31, 2031.