Big payday for ex-Zynga Schappert

Aug 09, 2012

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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