PAWTUCKET – Hasbro Inc. Chairman and CEO Brian Goldner was paid $8.5 million in 2018, a decline from $11.9 million in 2017, according to the company’s proxy statement Tuesday.
Goldner had a base salary of $1.55 million, earned $3 million in stock awards, $3.4 million in option awards, $409,500 in matching contributions to Hasbro’s 401(k) plan and supplemental plan and $23,430 in financial planning, legal and tax preparation services. Goldner also was paid $89,357 based on changes in pension value and non-qualified deferred compensation earnings. The proxy statement also noted that Goldner asked that he not be paid any of his earned cash bonus of $1.2 million for 2018 and have it distributed instead to key personnel who would have not been able to receive their cash incentive awards in light of the challenging environment.
The company also filed an extension of Goldner’s employment agreement to Dec. 31, 2022 (from the previous end date of Dec. 31, 2020). In addition, his base salary was increased to $1.6 million, while his long-term equity incentive award was grown to 800 percent of his base salary, beginning in fiscal 2019.
The report said that the median salary of a Hasbro employee in 2018 was $66,893, a decline from $74,207 one year prior, which resulted in a CEO-to-median employee of 127-to-1 for 2018, compared with 160-to-1 in 2017.
The report also said that Hasbro’s global workforce population declined from 6,250 on Oct. 4, 2017, to 5,729 as of Dec. 30, 2018. It is worth noting that in 2017, 293 employees of the company in Ireland were not included in the median salary estimation.
Other Hasbro executive earnings in the proxy statement:
- Company President and Chief Operating Officer John Frascotti earned $6.8 million in 2018, compared with $4.5 million one year prior.
- Deborah Thomas, executive vice president and chief financial officer, earned $3.4 million for the year, an increase from $3.1 million in 2017.
- Stephen Davis, executive vice president and chief content officer, earned $2.7 million in 2018, compared with $3 million in 2017.
- Weibe Tinga, executive vice president and chief commercial officer, earned $2.6 million in 2018, compared with $2.7 million in 2017.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
