Nexstar Broadcasting CEO Perry Sook has a new contract which will pay him a million dollars during its final year.
The contract, filed today with the Securities and Exchange Commission, will keep Sook with the company through Dec. 31, 2011.
Sook's base salary, set at $750,000 this year, will increase to $900,000 in 2009, $950,000 in 2010, and $1 million in 2011.
Of course, that total is just the base. Sook is also eligible for annual bonuses of $375,000, $450,000, $475,000, and $500,000 over the next four years, according to the contract.
Sook also received $350,000 for signing a non-compete clause.
Nexstar Broadcasting owns and operates KSNF and KODE in Joplin and KSFX and KOLR in Springfield.
With the stock free fall, you have to question why anyone is getting pay raises. Are all employees getting raises?
ReplyDeleteLook him up. He OWNS the company. He's paying himself the raises.
ReplyDeleteAnd NexStar is losing money. The stock is at $.89. It WAS at $5.42
Sook is just creating a little nest egg like the bankers did before their companies failed.
Nothing wrong with that. The Repubs, which Sook gives HEAVILY to, have changed the county's log from USA to ME$A