S&P Global Market Intelligence's regular look at executive compensation in the U.S. technology media and communications industries.
New York Times Co. President and CEO Mark Thompson took home about $5.2 million in fiscal 2017 total compensation, up from $4.9 million the year before.
Thompson's 2017 pay package included about $1.0 million in salary, $1.9 million in stock awards and $2.1 million in nonequity incentive plan compensation, according to a March 7 SEC filing.
Chairman Arthur Sulzberger Jr., who retired as publisher of The New York Times in December 2017, pulled in roughly $5.6 million in 2017 compensation, which included about $1.9 million in stock awards, $1.1 million in salary and $2.3 million in nonequity incentive plan compensation. By comparison, Sulzberger was paid roughly $5.1 million in fiscal 2016.
James Follo, who retired as CFO of the company at the end of February, was paid about $2.0 million in 2017. Meredith Kopit Levien, who was promoted to executive vice president and COO of the company in June 2017, received $3.5 million in 2017 compensation, up from $1.7 million in the prior year.
In other compensation news:
* World Wrestling Entertainment Inc. Chairman and CEO Vincent McMahon's 2017 compensation totaled about $3.1 million, almost the same as in 2016. The executive received roughly $1.4 million in salary and $1.7 million in nonequity incentive plan compensation, the company disclosed in a March 7 proxy filing. Co-President and CFO George Barrios' 2017 total compensation decreased to $1.9 million from $4.3 million in 2016, while Co-President Michelle Wilson's compensation declined to $2.0 million from $4.3 million the year before. Executive Producer Kevin Dunn saw his 2017 pay package decrease to $2.3 million from $4.6 million.
* Gogo Inc.'s newly named president and CEO, Oakleigh Thorne, will be entitled to an annual base salary of $700,000, with an annual bonus target of 100% of his base salary, according to a March 6 SEC filing.
Thorne has been granted the options to purchase 700,000 shares of company common stock and a long-term incentive award of an aggregate 200,000 shares of company common stock, consisting of options to purchase 86,750 shares and 13,250 restricted stock awards, and 13,250 performance stock units and performance options to purchase 86,750 shares. Thorne will receive a $150,000 cash payment to cover his relocation-related expenses and will be reimbursed for up to $25,000 of his legal expenses in connection with the negotiation of the terms of his employment.
Pursuant to a separation agreement with the company, former CEO Michael Small will receive a payment of $58,333 in lieu of the requirement to provide 30 days' notice of termination, payment of his accrued and unpaid annual bonus for 2017, a severance payment of $700,000, and an additional payment of $250,000.
* Daniel Weinrot will resign as executive vice president, legal and general counsel and corporate secretary of Leaf Group Ltd., effective as of the close of business April 1. Weinrot will continue to provide consulting services to the company for six months following his resignation pursuant to a consulting agreement, the company said in a March 1 SEC filing.
In consideration for providing such consulting services and a release of claims against the company, Weinrot will receive monthly compensation in an amount of $25,000, which is equal to his monthly base salary as of the final date of his employment with the company.
* iHeartMedia Inc.'s board approved a bonus opportunity for Chairman and CEO Robert Pittman under a new 2018 Key Incentive Bonus Plan, pursuant to which Pittman will be eligible to earn a target bonus for each calendar quarter of 2018 of $2.3 million. The board approved payment of Pittman's Quarterly Bonus for the period ending March 31.
In addition, the board accelerated the payments of a $500,000 bonus the CEO earned in 2016 and $500,000 he earned in 2017 under the iHeartMedia's 2015 Supplemental Incentive Plan. Meanwhile, President, COO and CFO Richard Bressler will be eligible to earn a quarterly bonus for each calendar quarter of 2018 of $1.3 million.
The board also accelerated the payments of bonuses Bressler previously earned during 2016 and 2017. Robert Walls Jr., the company's executive vice president, general counsel and secretary, will be eligible to earn a quarterly bonus for each calendar quarter of 2018 of $225,000.
