Gianoni, who began work in January 2014, initially had a three-year contract and a base salary of $600,000. He received $4.8 million in compensation for the year ended December 31, 2014. When he was hired he received a restricted grant of stock value at $1.5 million to vest annual on the first, second and third anniversaries of the grant date and he received a bonus of $870,000 to help with relocation and other transition costs. The salary increase boosts his potential earnings as next year, he can earn a bonus equal to his salary depending on meeting performance goals. The company can also award him an equity-based award with a target value of $3 million to $4 million.
BLACKBAUD EXTENDS CEO'S JOB Featured
The contract of Blackbaud CEO Mike Gianoni has been extended for four years and he has been granted some plump rewards. Gianoni's salary was raised to $700,000 annually, up from a $600,000 based and he was granted a restricted stock grant of the Company's common stock valued at $5 million, which vests on Dec. 31, 2019 if he is still employed. The announcement by the nonprofit software publisher credited Gianoni with "a rapid wave of innovation within its product portfolio, significantly improved client satisfaction, and has experienced more than 60-percent growth in its stock price."
