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Alternative Market Briefing

Insight on upper management compensation as Fortress Investment Group files new CEO Mudd’s offer letter with SEC
Tuesday, July 21, 2009

From the Opalesque Team:

According to the form 8K which Fortress Investment Group has filed with the SEC (form available here: Source) the firm’s new CEO, former Fannie Mae CEO Daniel Mudd will be making a base salary of $200,000 per year. The filing, which also includes Mudd’s formal offer letter spells out the following in terms of compensation:

  • 2009 calendar year bonus of $1.3m payable on Mudd’s August 11th start date
  • 2010 calendar year base salary of $200,000 and guaranteed bonus of $1.8m
  • An immediate stock grant of $500,000 in Fortr......................

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