Big payday for ex-Zynga SchappertAugust 9, 2012: 1:54 PM ET
FORTUNE -- Don't feel too bad for John Schappert, who yesterday resigned as Zynga's (ZNGA) chief operating officer after being neutered in a corporate reorganization. Seems he did pretty well for himself, considering that he only was with the company for 15 months.
Based on SEC filings, it appears that Schappert made $24.16 million during that period. Or, put another way, nearly $57,000 per day. Here's the breakdown:
- Signing bonus: $10 million
- Total salary: $370,000 (based on $300k annual)
- Cash bonus (of sorts): $1.25 million
- $8.04 million in sold Zynga stock
- $4.5 million worth of outstanding Zynga stock (1.49 million shares).
To be fair, Schappert also left a lot on the table by quitting. Had he stuck around until next March 15, he would have been entitled to more than $9 million in additional compensation. Ditto if he got himself fired without cause.
But still not too shabby for just over a year of work at a company whose fortunes tanked during his tenure. There's an old saying that Silicon Valley rewards failure. If someone chooses to make it into a poster, I hope they have Schappert's number.
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