Mattel has issued a special $15 million stock grant to CEO Ynon Kreiz, citing his success in film and TV as a driving factor.
Mattel’s board issued the Retention Performance Grant earlier this week, with the company writing in an SEC filing Friday that the importance of his continued leadership at the company was a key factor in the grant.
“The Committee believes that Mr. Kreiz’s leadership is a key factor for the Company’s ongoing success and growth potential and that Mr. Kreiz has been and continues to be the driving force behind the Company’s transformation to become an IP-driven toy business with an expanding entertainment offering,” the filing states.
While the filing notes the company’s financial performance and growth in toy sales, it also makes a point of calling out Mattel’s success in entertainment via Mattel Films and Mattel Television Studios.
Mattel, of course, was behind one of last year’s blockbuster hits with the Barbie movie. The company is also working with Paramount on an American Girl film, and with Universal on a Monsters High film.
The grant has a target value of $15 million, though the exact number of shares he will receive will depend on performance factors, including Mattel’s share price and total stockholder return.
Kreiz’s 2023 compensation package totaled $18.9 million.