Priceline CEO Darren Huston Earned $17.9 Million

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Priceline CEO Darren Huston Earned 17.9
Million, a Very Good Year for the Company
The Priceline Group likes to keep its CEOs hungry
with below-market base salaries and lucrative
potential bonuses should they and the company
over-achieve. CEO Darren Huston cashed in on the
opportunity, receiving nearly 17.9 million in
total compensation just prior to taking on the
top role. Hustons 2013 base salary of 478,487
as CEO of the Priceline Groups Booking.com
unit, he received a stock award of around 12
million, a bonus of 5.25 million, and other
compensation amounting to a teensy 150,000 or
so. That brought Hustons total compensation to
17,878,468, to be precise, which he received in
euros as he was based in the Netherlands.
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Hustons 2013 bonus was based on his being the
CEO of Booking.com and its excellent
performance, a Priceline financial filing states,
as well as the additional duties he took last
year to be responsible for the Groups
inter-brand relations. You might think of
Hustons role last year in coordinating relations
between and technology-sharing among
Booking.com, Priceline.com, Kayak, Agoda, and
rentalcars.com in 2013 as sort of a CEO
internship and a prelude to his taking the top
spot in 2014, replacing Jeffery Boyd as CEO of
the Priceline Group. Also Read Priceline CEO
Hope to show America our fantastic product
As part of his 2013 compensation, Huston became
eligible for a 6 million grant of performance
share units that vest over three years if the
company achieves earnings targets during this
period. He also a stock award of 6 million in
November 2013 based on his promotion to
president and CEO of the Priceline Group on
January 1, 2014. This performance share unit
grant could come to nothing if the Priceline
Group doesnt achieve earnings targets, but the
number of underlying shares could double if the
Group achieves outstanding performance, the
company states. Outgoing CEO Boyd, who stays on
as Priceline Group chairman, didnt do too
shabbily in 2013 compensation-wise, although
Hustons compensation was nearly 3 million
greater.
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• Boyds total compensation was 15,058, 300,
  including a base salary of 550,000, a stock
  award of a little more than 8 million, an
  incentive payment of 6.5 million, and other
  compensation of nearly 8,000.
• To the degree that Pricelines compensation
  strategy contributes to performance, it appears
  to be working.
• The company believes that 2013 was a very good
  year, the Priceline Group states, adding
• Pricelines stock price increased 87 in 2013.
• Its gross bookings jumped 37.7 year over year.
• Pricelines adjusted EBITDA climbed 35.9 year
  over year, and
• Priceline retained its position as the leader in
  global room nights booked.
• Those kinds of marks make it worth tossing a few
  extra bucks to senior management.