The Associated Press reported that McClatchy Co. President and Chief Executive Gary B. Pruitt got a $1 million salary last year, up from the $950,000 salary he received for 2004, the newspaper publisher said. Pruitt also received a $950,000 bonus for the year, down from his 2004 bonus of $1.1 million, according to the Sacramento, Calif.-based company's proxy filed Wednesday with the Securities and Exchange Commission.
Additionally, the CEO received 40,000 restricted shares, which will vest in January 2009, subject to certain performance criteria, according to the proxy.
Pruitt also received $657,000 under a long-term incentive plan, compared with $108,600 in 2004. Additionally, he received stock appreciation rights based on the value of 75,000 shares of McClatchy stock.
2 comments:
The yacht market will never have a recession as long as the guys at the top get more money than you add up in your head. I notice that Tony Ridder's letter to retirees said that McClatchy can change medical coverage for those who retired after 1993. Another yacht, maybe?
Pruitt doesn't play golf or own a yacht.
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