PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
The increases are effective as of April 1.
The daily deal operator is boosting the base pay for chief financial officer Jason Child from $350,000 to $380,000, according to a filing with the Securities and Exchange Commission. Moreover, his yearly cash performance bonus was changed from a guaranteed $350,000 to an amount 125% of his base pay, or $475,000.
He’ll receive half of the bonus in June. Then, in the first quarter of 2013, he’ll receive the rest of the guarantee, as well as any other additional bonuses that he can get via a performance criteria plan the daily deal operator’s board of directors plans to develop.
Child is a former Amazon.com Inc. employee. At Amazon, he was vice president of finance for the retailer's international business and worldwide corporate controller; he joined Groupon in 2010. Amazon is No. 1 in the Internet Retailer Top 500 Guide.
Brian Totty, senior vice president of engineering and operations, will see his salary rise from $250,000 to $350,000. He is also eligible for a $350,000 cash performance bonus. Groupon’s board also approved Totty to receive 320,000 shares of restricted stock that will vest over 16 quarters, beginning on March 14, 2014.
The IRCE $200 early-bird discount expires Mar. 31.