Several SeaWorld executives are getting million in stock awards after 90% of workers were sent home with no pay for an indefinite period.
According to a SEC filing top executives will share a $6.8 million windfall in stock.
The awards ‘recognize employees for their extraordinary contributions and continued expected contributions to the Company and its long-term goals during the global COVID-19 pandemic.’
It comes after SeaWorld furloughed most of its workers without pay as parks remain closed due to the pandemic.
"The restricted stock units will vest 50% on each of the first two anniversaries of the grant date, subject to the recipient’s continued employment on each such vesting date," the filing stated.
The company has gone through another leadership change after Sergio Rivera stepped down as CEO citing ‘board disagreements.’
He was replaced by interim CEO Marc Swanson who will be the largest beneficiary of stock options with $1.5 million.
Chief operating officer Walter Bogumil will get $1.3 million, and chief legal officer G. Anthony Taylor receives $1.18 million.
SeaWorld recently announced that executives would take a 20% pay cut.
