The information, presented in a document filed with the Securities and Exchange Commission, indicates that Kotick's salary for the fiscal year was $408,375, down 17% from the prior year. Kelly earned the same salary. There was no explanation given for the salary refusal.
Nevertheless, both were well compensated in other ways. Kotick accepted a grant of 153,000 stock options on April 1 as bonuses for the prior year, and had already exercised $18 million worth of options during last fiscal year. Kelly exercised $13.3 million worth of options during the year.
Separately, Activision is asking shareholders for permission to almost double the number of shares of common stock, from 125 million to 225 million shares. That company said it wants to raise cash for acquisitions and other needs.