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Activision's Bobby Kotick among highest paid CEOs in U.S.

Michael McWhertor is a journalist with more than 17 years of experience covering video games, technology, movies, TV, and entertainment.

Activision Blizzard CEO Bobby Kotick made more than $64.9 million last year, according to a proxy statement filed with the SEC today. According to Reuters, that makes Kotick one of the highest paid CEOs in the United States.

Kotick's actual salary last year was a little more than $2 million, double his salary from 2011. He was also compensated $2.5 million in bonuses and $4.4 million in 2012 as part of Activision Blizzard's corporate annual incentive plan. The majority of Kotick's total compensation came from stock awards worth more than $55.9 million. That award, part of an employment agreement signed in March 2012, is tied to performance and will vest over five years, but is reported in the year it was granted.

In 2011, when he was awarded no stock, Kotick's compensation as president and CEO was $8.3 million.

For the year 2012, Activision Blizzard's annual net revenue was $4.856 billion and its net income was $1.149 billion, both up from the year before.

Activision Blizzard chief financial officer Dennis Durkin's compensation for the year totaled $13.4 million, while Mike Morhaime, president and CEO of Blizzard Entertainment, made more than $9 million.

Update: This story was updated to provide clarification about the vesting of Mr. Kotick's grant of restricted stock units and performance shares tied to the employment agreement he signed in 2012.

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