Mattel's New CFO Peter Griffith Gets a $1.3M Salary and $1.4M Signing Bonus, Per the 8-K
Mattel CFO Peter Griffith pay terms per the 8-K: $1.3M base salary, bonus target of 100% capped at 200%, $1.4M signing bonus and a $3.3M new-hire PSU award.
Mattel will pay its new chief financial officer, Peter Griffith, an annual base salary of $1,300,000 and a $1,400,000 cash signing bonus, according to its 8-K filing. Mattel announced the appointment on 19 October 2026, and it takes effect on 20 October 2026, when Griffith also joins the board as a non-independent director. The filing sets an annual target bonus of 100% of base salary, capped at 200%, starting with the 2027 performance year.
How much will Peter Griffith earn in salary and bonus?
His offer letter sets an annual base salary of $1,300,000 (SEC 8-K). Under the Mattel Incentive Plan, his target annual bonus is 100% of base salary, up to a maximum of 200%, and bonus eligibility starts in the 2027 performance year (SEC 8-K). At the stated base, that is a $1.3 million target and a $2.6 million maximum.
The bonus is a percentage of base salary, so its dollar value rises or falls with the salary the offer letter sets. The 8-K says he is not eligible to participate in the Mattel Incentive Plan for the 2026 performance year.
| Pay element | Stated amount (as of 19 October 2026) | When it applies | Source |
|---|---|---|---|
| Annual base salary | $1,300,000 | Offer letter terms | SEC 8-K |
| Target annual bonus | 100% of base salary | From the 2027 performance year | SEC 8-K |
| Maximum annual bonus | 200% of base salary | From the 2027 performance year | SEC 8-K |
| Cash signing bonus | $1,400,000 | Payable by 31 Dec 2026; full repayment if terminated for cause or he resigns without good reason by 31 Dec 2027 | SEC 8-K |
The $1,400,000 signing bonus is the figure both CFO Dive and Stock Titan report from the filing. SEPT Investing reports the same amount, rounded to $1.4 million.
What equity awards does Peter Griffith receive?
The filing lists four equity grants with stated dollar values. The largest is a new-hire performance-based restricted stock unit ("PSU") award with a grant date fair value of $3,300,000 (SEC 8-K). It vests at the end of a three-year period, subject to Mattel's relative total shareholder return reaching at least the 55th percentile of the S&P 500 and to his continued employment.
The filing presents these as separate grants: a new-hire award, a prorated 2026 annual award and two portions of the 2027 annual award. The table below lists them in the order the filing gives them.
| Award | Stated value | Type |
|---|---|---|
| New-hire PSU award | $3,300,000 grant date fair value | Performance-based RSU |
| Prorated 2026 annual award | $1,000,000 grant value | RSU |
| Portion of 2027 annual award | $2,500,000 grant value | RSU |
| Remaining portion of 2027 annual award | $2,500,000 grant date value | PSU |
The four grants with stated dollar values total $9.3 million, about seven times his base salary. Grant values are set when the award is made. They are not cash, and they are not the amount Griffith will hold when the awards vest.
When do the appointments take effect?
Griffith's appointments as Chief Financial Officer and as a non-independent director are both effective 20 October 2026 (SEC 8-K). Paul Ruh ceases to serve as CFO effective 19 October 2026, one day before Griffith's start date, according to the same filing. The two dates line up: the CFO and director appointments share the 20 October 2026 effective date, while Ruh's departure from the CFO role comes one day earlier, on 19 October 2026.
Does the board seat come with extra pay?
No. The 8-K says Griffith "will not receive any additional compensation for his service as a member of the Board" (SEC 8-K). His pay is the offer letter package alone.
What happens to Paul Ruh?
Ruh will continue as an Executive Advisor from 20 October 2026 through 31 December 2026 to support the transition (SEC 8-K). The filing describes the advisory role as a transition arrangement with an end date, not an open-ended role. Because the Start Date is 20 October 2026, the advisory period begins on the day Griffith's appointment takes effect and runs for about ten weeks, through 31 December 2026.
How can you check these terms yourself?
Start with the 8-K itself, then compare each figure against the filing text.
Quotes in this article are word for word from the 8-K. If a secondary source words a figure differently from the filing, trust the filing. The 8-K's accession number is 0001193125-26-424696.
What's still unclear?
- Target is not payout. The 100% figure is a target, and 200% is the ceiling. The filing does not say what bonus Griffith is expected to earn.
- Grant values versus vesting. Every equity figure here is a grant value, not cash. What Griffith holds at vesting depends on the award terms and on the performance conditions in the filing, including the 55th-percentile TSR test on the new-hire PSU.
- Weakest point of this comparison. The $9.3 million equity total is a sum of grant values, not compensation earned. It shows the size of the package on paper, not what Griffith will receive.
The 8-K states the base salary, the bonus percentages and the effective dates directly. What Griffith will actually receive depends on bonus payout and on how the equity awards vest, and the filing does not answer either.
Frequently asked questions
What is Peter Griffith's base salary as Mattel's CFO?
Mattel's 8-K sets Peter Griffith's annual base salary at $1,300,000 under his offer letter, as of the 19 October 2026 filing. The filing also gives him an annual target bonus of 100% of base salary, capped at 200%, with eligibility starting in the 2027 performance year. At the stated base, the target is $1.3 million and the maximum is $2.6 million.
How big is Peter Griffith's signing bonus?
Peter Griffith receives a $1,400,000 cash signing bonus, payable no later than 31 December 2026. If Mattel terminates him for cause, or he resigns without good reason, on or before 31 December 2027, he must repay the bonus in full, according to the 8-K.
When does Peter Griffith's appointment take effect?
Mattel's 8-K says Peter Griffith's appointment as Chief Financial Officer and as a non-independent director is effective 20 October 2026. Paul Ruh ceases to serve as CFO effective 19 October 2026, and Ruh then serves as an Executive Advisor through 31 December 2026 to support the transition.
Does Peter Griffith get paid for his seat on the Mattel board?
No. The 8-K states that Peter Griffith will not receive any additional compensation for his service as a member of the Board of Directors. His pay is the offer letter package: base salary, bonus eligibility, signing bonus and equity awards.
What equity does Peter Griffith receive at Mattel?
The 8-K lists a new-hire performance-based RSU (PSU) award with a grant date fair value of $3,300,000, a prorated 2026 annual RSU award with a grant value of $1,000,000, and two portions of his 2027 annual award of $2,500,000 each, one in RSUs and one in PSUs. Grant values are set on the grant date and are not the amounts he will receive at vesting.
Sources
- Form 8-K, Mattel, Inc. (Peter Griffith appointment), SEC.gov (2026-10-19)
- Incoming Mattel CFO Peter Griffith to get $1.4M sign-on bonus, CFO Dive (2026-10-19)
- Form 8-K filing summary, Mattel (MAT), Stock Titan (2026-10-19)
- Mattel (MAT) filing 0001193125-26-424696, SEPT Investing (2026-10-19)