EA hits out at Riccitiello pay reports

Electronic Arts has responded to what it claims is an erroneous article
by the Associated Press regarding the compensation package for its CEO,
John Riccitiello.

The AP report claimed earlier this week that Riccitiello had
scooped USD 11.1 million in the year ending March 31, 2009, an apparent
decline of 36 per cent over the previous year.

However, EA has told GamesIndustry.biz that the
calculations - particularly those pertaining to shares awards - are
"factually incorrect" and that Riccitiello wasn't in fact awarded "any
options or restricted stock at all".

"Their calculation is inaccurate," a spokesperson for the
company explained. "It includes value of performance-based shares that
will vest over several years - and only if high performance hurdles are
met.

"As reported, it appears as though those shares are
compensation for this year, which they are not. Accurately, they are an
opportunity to earn shares over the coming years if company objectives
are met."

A recent financial release, on which the AP report was based,

http://www.gamesindustry.biz/articles/ea-hits-out-at-riccitiello-pay-reports