Live Nation Entertainment, Inc. has entered into an amended and restated employment agreement with President and CEO Michael Rapino, effective October 1, 2026. The new agreement extends his term through December 31, 2031, and introduces a revised compensation structure that includes a significant one-time equity grant and new annual awards, with a strong emphasis on performance-based pay.
Key Details
- Agreement Term: The new employment agreement is effective from October 1, 2026, through December 31, 2031.
- Compensation Structure: Mr. Rapino's annual base salary remains at $3,000,000 and his target annual cash performance bonus remains at $17,000,000. The updated compensation includes a one-time upfront RSU grant valued at $20,000,000, which vests over five years.
- New Annual Equity Awards (Starting 2027): The agreement establishes new annual grants consisting of a $15,000,000 time-based RSU award (vesting over five years) and a $15,000,000 performance share unit (PSU) award with a three-year performance period tied to total shareholder return.