Bonuses for DreamWorks honchos

CEO Jeffrey Katzenberg picks up about $8 million worth of incentive awards, according to an SEC filing from the Glendale-based animation company (via footnoted.com).

In fairness, we want to add that Katzenberg pulls in $1 a year as a base salary. According to the proxy that Dreamworks filed April 1, his compensation package was structured with the goals of conserving cash by giving more equity awards, emphasizing the company's long-term success, and rewarding Katzenberg "if and when other stockholders receive appropriate returns." The proxy added that Katzenberg's comp package was designed to put his total compensation "...at approximately the fiftieth percentile for comparable positions at other entertainment studios." Nevertheless, he got more than $23.44 million in FY 2009.

Besides Katzenberg, president and CFO Lewis Coleman received a bonus of $3.25 million. The DreamWorks feature "Megamind" topped the box office charts this past weekend, at $47.7 million, though apparently that's less than what some on Wall Street had been expecting. The stock is down 2 percent this morning.