Hasbro CEO Goldner’s Stock Value Swells to Over $100M
Thursday, November 08, 2018
According to U.S. Securities and Exchange Commission's filings, Goldner spent $1 million to buy stock on October 29. Those 11,000 additional shares of Hasbro stock brought his total stock holdings in Hasbro to 1.005 million shares. On Wednesday, Hasbro stock closed at $100.40 per share bringing the value of Goldner’s stock holding to more than $100 million.
Last month, Hasbro laid off hundreds of employees and Goldner announced to employees at an internal meeting that some staff will be shifted to Los Angeles, according to multiple sources.
Repeated requests to Hasbro’s corporate communications department regarding the meeting went unanswered.
As GoLocal first reported in 2017, Hasbro is looking to consolidate its corporate office and multiple sites in RI to Providence have been under consideration.
CEO Makes 160 Times Median Employee Pay
According to the AFL-CIO, the median salary of a Hasbro employee was $74,207, and Goldner’s total compensation for the year 2017 was $11,854,389. His compensation was comprised of:
Value of Stock Awards $3,401,482
Value of Option Awards $3,272,528
Non-Equity Incentive Plan Compensation $3,000,000
Change in Pension Value and Deferred Compensation Earnings $175,505
All Other Compensation $504,874
Thus, in 2017, the CEO of Hasbro made 160 times its median employee's pay.
And while Hasbro has been cutting and moving employees, the company’s stock continues to be volatile and over the past year swinging from a 52-week low of $79 per share to as high as $109 per share.
Reuters reported on October 22, that the third quarter performance disappointed Wall Street, “Toymaker Hasbro missed analysts' estimates for quarterly revenue and profit on Monday, as the demise of major retail partner Toys R Us hurt sales in the United States and Europe, sending its shares down 9 percent in early trading.”
In December, GoLocal broke an exclusive story that unveiled what could be the biggest business story to hit Providence in decades.
GoLocal learned that a plan by two real estate mega-forces, Providence developer Joe Paolino of Paolino Properties and Bob Gilbane of Gilbane Development, developed a plan for Hasbro that would build an approximately 36 story tower at the location of the now vacant Superman Building.
The new structure was being pitched to Hasbro for its new consolidated headquarters. The Paolino and Gilbane plan is just one of a number of plans submitted, but the only one that includes the demolition of the Superman building. Some of the other proposed offered for Hasbro's consideration include building a campus for Hasbro on 195 lands. Other potential developers include Procaccianti Companies who "has owned, developed or managed millions of square feet of real estate." The company owns the Renaissance Hotel in Providence to name just one of its holdings.
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