Live Nation extends Michael Rapino as CEO through 2031 with new compensation agreement
The live entertainment company agreed to a new contract for its president and chief executive officer.
Live Nation Entertainment, Inc. (LYV) said Wednesday it entered into an amended and restated employment agreement with Michael Rapino, continuing his service as president and chief executive officer and as a member of the board of directors. A regulatory filing showed the agreement is effective as of Oct. 1, 2026, and ends on Dec. 31, 2031.
Rapino will continue to receive an annual base salary of $3,000,000. Commencing in 2027, he remains eligible for an annual cash performance bonus with a target amount of $17,000,000, based on company adjusted operating income performance targets established annually by the board compensation committee.
Beginning in 2027, Rapino will receive an annual performance-based grant of restricted shares of company common stock with a target value of not less than $10,000,000, tied to qualitative performance targets. The agreement also provides for annual grants of restricted stock units valued at $15,000,000 and performance share units with a target value of $15,000,000, starting in 2027.
On the effective date, Rapino will receive an upfront grant of restricted stock units valued at $20,000,000. These upfront units will vest 40% on the first anniversary of the grant date, 20% on the second, 20% on the third, 10% on the fourth, and 10% on the fifth anniversary, subject to continued employment.