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.