Filings Watch: RealNetworks’ New Games President: Compensation and Hopes, Despite Delays

imageRealNetworks (NSDQ: RNWK) is still hoping to spin-off its casual gaming unit, never mind the economy and delays, and with its Q308 results, announced a new heavy-hitter head of the unit last week: John Barbour, who previously was the President of Toys “R” Us’ U.S. operations, and was member of the exec team that sold the company to Bain Capital, KKR and Vornado. And now, in an SEC filing, some details of his compensation and contract: Barbour will receive an annual base salary of $450,000 and will be eligible to receive annual performance-based cash incentive compensation targeted at 100 percent of his base salary this year. In 2009, Barbour will be eligible to earn annual performance-based cash incentive compensation of up to 200 percent of his base salary.
On the stock side, Barbour will be granted nonqualified stock options for the purchase of 500,000 shares of the company’s common stock. Also, Barbour will be granted an option to purchase 2 percent of the capital stock of the new games company.
In the Q3 earnings announced last week, RNWK CEO Rob Glaser mentioned that the spin-off will not happen this year, due to the market conditions. From the earnings call: “The current capital market disarray makes it clear that now is not the right time to spin off our games business into a new company…We don