Live Nation CEO Michael Rapino Receives Contract Extension Through 2031 with $60M Target Pay

Live Nation has extended CEO Michael Rapino with a contract that keeps him in place through the end of 2031 with a $60 million target pay package, more than doubling his potential compensation.

Rapino’s contract was set to expire at the end of 2027.

The deal, which was approved unanimously by Live Nation’s board (Rapino himself abstained) Sept. 30, went into effect Oct. 1.

Beginning in 2027, Rapino’s annual salary will be $3 million with the potential of a $17 million target cash performance bonus and $10 million in annual performance shares. Those terms are unchanged from his former contract, which was signed in 2022. What’s new is the addition of $15 million in time-based restricted stock units and another $15 million in performance- based share units.

The time-based stock options vest in 20% increments on the anniversary of the deal. The performance-based units will be awarded based on Live Nation’s shareholder return relative to companies in the S&P 500, receiving twice the target shares if performance is in the 75th percentile or better, the target amount if at the 50th percentile, 25% if at the 25th and no performance shares below that.

Live Nation also granted Rapino $20 million in upfront stock options upon signing, which will vest through the life of the deal.

_Originally reported by [Pollstar](https://news.pollstar.com/2026/10/05/live-nation-extends-rapino-through-2031-with-60m-target-pay-package/)._