Cumulus Discloses Bonuses For Execs
March 3, 2011 at 3:58 AM (PT)
CUMULUS MEDIA INC. has disclosed the bonuses paid to its executives for fiscal 2010 in a filing with the SEC, with Chairman/Pres./CEO LEW DICKEY receiving a bonus of $939,960 ($733,200 based on satisfaction of performance criteria and $206,760 discretionary, with $469,980 in cash and 96,506 shares of Class A Common Stock).
He also received 320,000 shares of restricted common stock under a long-term incentive award plan, including 160,000 time-vested shares. The Compensation committee also approved DICKEY's 2011 incentive bonus plan, under which he stands to make a cash bonus of between $493,500 and $987,000 if targets are achieved.
EVP/Co-COO JOHN DICKEY received $290,000 ($145,000 in cash and 29,775 shares of stock) plus 80,000 time-vested shares; EVP-CO-COO JON PINCH got $240,000 ($120,000 in cash and 24,641 shares of stock) plus 50,000 time-vested shares; SVP/Treasurer/CFO J.P. HANNAN received $100,000 ($50,000 in cash and 10,267 shares of stock) plus 15,000 time-vested shares; and SVP/Secretary/General Counsel RICHARD S. DENNING received $75,000 ($37,500 in cash and 7,701 shares of stock) plus 25,000 time-vested shares.