UPDATED: DreamWorks Animation chief exeuctive Jeffrey Katzenberg saw his compensation more than double in 2015 to $13.5 million — returning to its level before the company went through a tough year of layoffs and restructuring.
Katzenberg, 65, derived the pay from a $2.5 million salary, a $6 million bonus, $4.5 million in stock awards and other perks.
His pay had dipped to under $6.4 million in 2014, as the company pared its staff, announced it would make two films a year, instead of three and shifted to a new management structure. The $13.5 million for last year was just above what Katzenberg made in 2013.
After a string of lackluster feature film releases, DreamWorks recovered in January with “Kung Fu Panda 3,” which has taken in more than $496 million worldwide — a hit, if not the kind of blockbuster that the studio had hoped for.
The bonuses paid to Katzenberg and other executives were linked to the company’s operating income goal of $90 million for the year. DreamWorks exceeded that goal — hitting $90.5 million — meaning that the CEO and other company leaders got the maximum bonus.
Like Katzenberg, other top DreamWorks employees saw their pay bounce back in 2015. President Ann Daly got a total of just over $8 million, about the same she received in 2013 and nearly double her 2014 compensation. Chief Financial Officer Fazal Merchant received a total of more than $4.6 million in 2015, not quite doubling his take in 2014 of just under $2.5 million. General Counsel Andrew Chang also doubled his 2014 pay, receiving more than $1.8 million in 2015.
DreamWorks stock rebounded last year, gaining nearly 14% by the end of calendar 2015. and increasing an additional 6% since January, to stand at more than $27 a share on Friday.