Zynga Law Chief Exits With $5.4 Million After Take-Two Purchase

Zynga Inc., a mobile gaming developer that completed its sale to Take-Two Interactive Software Inc. last month, will lose its top lawyer July 1.

Phuong Phillips, a former lead mergers and acquisitions lawyer at Tesla Inc., will exit along with three other company executives after its merger with Take-Two closed May 23, Zynga said in a securities filing.

Phillips is poised to receive $5.4 million in total “golden parachute” compensation stemming from its Zynga takeover, Take-Two disclosed in an April 5 securities filing.

Take-Two, advised by Willkie Farr & Gallagher, announced in January its $12.7 billion cash-and-stock ...