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The Pay Check


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The Pay Check

Tim Westergren, who became CEO of Pandora Media Inc. in March 2016, pulled in $4.4 million in 2016 total compensation, including $486,875 in salary, $315,000 in bonus and $3.4 million in stock awards, according to a June 12 SEC filing.

Former CEO Brian McAndrews was paid roughly $3.4 million in 2016. President and former CFO Mike Herring saw his paycheck increase year over year to $3.7 million in 2016, compared with $2.7 million in 2015. Naveen Chopra replaced Herring as CFO of the internet radio company in February.

Meanwhile, Chief Revenue Officer John Trimble netted roughly $3.5 million in 2016, including $2.7 million in stock awards, compared with the $2.9 million he earned in 2015. Executive Vice President of Revenue Operations David Gerbitz made about $3.0 million in 2016.

Thanks largely to stock awards worth about $2.7 million, Chief Product Officer Chris Phillips saw his 2016 pay package rise to $3.3 million from $898,294 in the prior year.

Sara Clemens, who resigned as COO of the company in December 2016, received $3.3 million in 2016 compensation.

In other compensation news:

* Beasley Broadcast Group Inc. reached new employment agreements with certain executives, according to a June 12 SEC filing. Pursuant to the agreements, George Beasley will serve as chairman of the company's board, Caroline Beasley as CEO, Bruce Beasley as president and Brian Beasley as COO. George and Caroline will each receive $750,000 in annual base salaries, while Bruce and Brian will each receive $550,000 in salaries, subject to adjustment. All executives will also receive the opportunity to earn an annual bonus award based on performance under Beasley Broadcast's performance incentive plan. The agreements also provide for restricted stock unit awards of 45,000 units for George, and 75,000 units for each of Caroline, Bruce and Brian. The RSUs will vest in substantially equal installments on each of Jan. 1, 2018, 2019, and 2020, subject to continued employment.

* Lisa Gersh, Mark Harris, Jacques Kerrest, Joshua Peirez and Susan Riley on June 9 were appointed to the board of comScore Inc. In connection with their appointment, each director will receive an annual cash retainer of $30,000, which will be paid in quarterly installments and prorated for the quarter in which they begin their board service, as per a June 9 SEC filing. Each of the directors will also be eligible to receive equity awards once the company regains compliance with financial reporting requirements.

* New York Times Co.'s newly named COO Meredith Kopit Levien will receive an annual base salary of $750,000, with a targeted annual incentive compensation equaling 100% of her base salary. She will also receive a long-term performance award for 2017-2019 equivalent to 133% of her base salary, as per a June 7 SEC filing.

* Tremor Video Inc.'s newly appointed CEO Mark Zagorski will be entitled to an annual base salary of $475,000, with an annual target bonus opportunity of $356,250, according to a June 6 Form 8-K filing. For 2017, he will get an annual bonus equal to 100% of his annual target bonus opportunity, provided his continued employment. Zagorski will receive a one-time cash payment of $250,000 upon commencement of his employment, and an additional one-time cash payment of $250,000 on the first anniversary of his employment commencement date, provided that he remains employed. Zagorski is required to buy company common stock within 30 days of his employment commencement date with a value of at least $100,000, provided that in the event he is prohibited from making any such purchase due to the Tremor Video's insider trading policy or applicable securities laws, he is required to purchase such shares as soon as practical following the first date on which he is permitted to make such purchase.

Additionally, Zagorski will receive restricted stock units calculated by dividing $440,000 by the closing price of Tremor Video's common stock on the NYSE on the date of grant. He will also receive a common stock option to buy 450,000 shares of company stock at an exercise price equaling the closing price thereof on the NYSE on the date of grant, which will vest over four years, with a one-year cliff and monthly vesting thereafter. Further, he will be granted a common stock option to buy 450,000 shares of common stock at an exercise price equal to the closing price of the company's common stock on the NYSE on the date of grant, half of which will vest as of the date on which the 30-day moving average of the company's common stock exceeds $4.00 per share and the other half to vest as of the date on which the 30-day moving average of the stock exceeds $5.00 per share. Additionally, he will receive an annual equity grant with a value of $600,000 consisting of a combination of RSUs and stock options.

* Jayant Kadambi who stepped down as CEO and chairman of YuMe Inc. in November 2016, received about $2.0 million in compensation that year, including $1.2 million in stock awards, according to a June 5 SEC filing. Interim CEO Paul Porrini took home $913,129 in 2016 compensation, down from roughly $1.1 million the year before. Chief Technology Officer Ayyappan Sankaran's 2016 pay package decreased to $923,329 from about $1.1 million in 2015.