Zynga (NASDAQ:ZNGA) Chief Receives $1 Salary Due to Slow Growth; Seeks to Cut Costs

Chief Executive Officer of Zynga Inc(NASDAQ:ZNGA), the world’s biggest social-game maker, Mark Pincus shattered his salary to $1 and chosen not to get a cash bonus or equity award in 2013 as the company seeks to lower expenses.

The San Francisco-based Zynga announced in a regulatory filing on Friday that the salary change took effect April 1.

Mark Pincus, who founded Zynga in 2007, received $1.68 million in 2011, comprising a salary of $300,000 and a bonus of $3,750, filings show. The social game maker has not announced executive salaries for fiscal year 2012.

Pincus is lowering expenses comprising his own salary as the company struggles to fight against consumers shifting to mobile-based games.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Glu Mobile Inc. (NASDAQ:GLUU) rose +6.37% to settle at $2.84, Shanda Games Limited (ADR) (NASDAQ:GAME) moved down -0.33% to end at $2.98 while Gravity Co., LTD. (ADR) (NASDAQ:GRVY) jumped +2.40% to finish at $1.28 on Friday.

Zynga Inc (NASDAQ:ZNGA) on April 05, 2013 increased +2.90% to the closing price of $3.55. The overall volume in the last trading session was 42.59 million shares. Its fifty two weeks range was $2.09 – $12.34. The total market capitalization remained at $2.80 billion.

ZNGA is ahead of its 52-week low with 69.86% and lagging behind from its 52-week high price with -71.23%. ZNGA’s last month’s stock price volatility remained 5.12%. In its share capital ZNGA has 785.49 million outstanding shares, among them 43.83 million shares have been floated in market exchange. ZNGA’s stock’s institutional ownership remained 43.83% while insider ownership included 0.33%.

The stock price of ZNGA is moving forward from its 20 days moving average with 2.16% and remote positively from 50 days moving average with 9.64%. ZNGA’s current year’s earnings per share experienced an addition with 51.12% while its current quarter performance remained at 47.30%.

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