Live Nation’s Other Checks

One tidbit that wasn’t included in Live Nation’s April 15 proxy statement filing with the Securities and Exchange Commission, at least according to the Wall Street Journal’s “Heard on the Street” column, concerned some non-executive payouts.

Seems the company also rewarded 50 “star” employees with “bonus” checks of $250 each, the paper reported – citing an internal email purportedly sent April 15 by Live Nation CEO Michael Rapino.

However, a spokesman for Live Nation told Pollstar that the checks were not in fact performance bonuses, and that the Journal didn’t include the part of Rapino’s email that offered to match any part of the those checks that were donated to a charity of the recipient’s choice.

The timing may have left something to be desired, since the same-day SEC filing revealed Rapino’s compensation jumped 137 percent from the previous year to $15.9 million while Chairman of the Board Irving Azoff pulled down $22.8 million.

The Wall Street Journal crunched the numbers and determined those 50 checks penciled out to “0.03 percent of the total take of the two senior executives,” noting it is “surely an affordable way to keep the crowd happy.” 

And, apparently, to offer “the crowd” a writeoff incentive for charitible giving for next April 15.