PAWTUCKET – Responding to shareholder concerns over the level of executive compensation, Hasbro Inc. made changes to the pay package of President and CEO Brian Goldner, cutting his total compensation for 2014 by 46.7 percent to $14.6 million, according to the company’s proxy statement filed last week.
The company rewrote Goldner’s employment contract, scheduled to run through 2017, to add return on invested capital as a metric for granting share awards, trimmed a performance multiplier from a different set of share awards and added new vesting components to other stock awards.
Goldner, who has run the Pawtucket-based toy and game manufacturing company since 2008, saw his overall compensation decrease from $27.4 million in 2013. The drop comes largely as a result of a reduction in stock awards, as Goldner received $7.7 million last year compared with $21.6 million a year earlier.
His base salary increased 4.2 percent to $1.3 million, and he received $2.8 million in option awards and $2.3 million in a nonequity incentive plan.
At the end of the year, Goldner held $40.3 million in outstanding nonvested equity awards. In addition, he realized a gain of $8.9 million when he exercised stock options.
