HITS Daily Double

Rapino Re-Ups with Live Nation

RAPINO RE-UPPED: Live Nation has extended the contract of CEO Michael Rapino from May 31, 2014 to Dec. 31, 2017, raising his base salary to $2.3 million, effective Jan. 1, according to an SEC filing. Rapino’s annual grant of 150,000 shares of restricted stock and the guaranteed salary increase of $100,000 will both be eliminated. In connection with the amended contract, Rapino was granted options to purchase 3.6 million shares of Live Nation common stock at an exercise price of $8.77 per share. Last March, Rapino received a total cash performance bonus of $4.8 million related to the 2011 fiscal year. His total compensation for 2011 of $11.9 million included a salary of $2 million, $2.7 million in stock awards and $2.4 million in options awards. His 2010 compensation of $15.9 million included a salary of just under $2 million and a bonus of $3 million, tied to the merger of Live Nation and Ticketmaster. Live Nation Entertainment Executive Chairman Irving Azoff was conspicuously missing from the report, fueling widespread speculation on his plans for 2013, with insiders believing he will ankle to start his own company again, amid chatter over what acquisitions he'll be making for his new venture. (12/31a)