Tracy Daw

Tracy Daw, the RealNetworks chief legal officer who resigned from the company this week, was awarded a $200,000 cash bonus in February for his work on the company’s sale of a large patent portfolio to Intel, according to a Securities and Exchange Commission filing.

Responding to an inquiry from GeekWire, a company representative confirms that Daw gets to keep the cash bonus despite his resignation. However, by leaving the company, he gives up rights to the 25,000 shares of restricted stock that he was also awarded at the same time. That stock wasn’t scheduled to fully vest for another year.

Under the Intel deal, announced in January, the chipmaker paid RealNetworks $120 million in cash for a portfolio of 190 patents, 170 patent applications and the Seattle company’s next-generation video-codec software.

In addition to the bonus for Daw, the company in February also approved a $200,000 cash bonus to Michael Lunsford, its executive vice president who filled in as interim CEO last year, for his work on the Intel deal.

Daw, a 12-year veteran of RealNetworks and the chief legal officer at the Seattle digital media company since 2010, has “stepped down to pursue another career opportunity,” according to a regulatory filing yesterday afternoon.

No word yet on where Daw is headed.

Comments

  • Dave

    Too bad he didn’t get a cash bonus for The Most Ridiculous RealNetworks Lawsuits of All Time:

    http://www.24oranges.nl/2011/11/06/internet-thugs-realnetworks-lose-case-against-hilbrand-edskes/

    • Guest

      RealPlayer was killed by it’s own spyware and adware, not by a hyperlink. Come on RealNetworks, get Real.

    • Guest

      That’s not a bonus, Dave. He made more than $1 million in just his normal salary for lawsuits like that.

      And for that “Buffering” sign on HQ? That’s another $50,000.

    • John S

      Irrelevant big American company + idiotic lawsuit against single person = PR disaster

  • JIT

    Get a $200,000 cash bonus AND leaving the sinking ship just in time, good job Tracy!

  • Rob

    All RealNetworks did the last 10 years was reaching a settlement with Microsoft and selling their patent portfolio to Intel and wasting the money they got out of it.

  • Patent Work

    “patent work”? Which “patent work”?

    He didn’t invent any patent, he only sold them.

  • Rg807

    Tracy is a great guy and $200K for a $120M deal is more than reasonable.

Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.