Blockbuster CEO paid $8.4M in 2008
March 27, 2009 by Stephen Kersey
Filed under Business
Blockbuster Chairman and CEO Jim Keyes received $8.4 million in total compensation in 2008, the company reported in a proxy filed on Friday. His compensation was a 49% increase over 2007.
Blockbuster Video - Image: Flickr
With the company struggling with large debt throughout 2008, Blockbuster shares dropped more than 60% over the year. Keyes received a base salary of $750,000 and another $402,500 in a bonus. However, he also received near $1 million in stock awards and another $6.26 million in option awards.
The company has also set their annual shareholders meeting for May 28, the proxy report showed. The re-election of nine Blockbuster directors is on the agenda, including that of the billionaire Carl Icahn.
On Friday, Blockbuster shares closed at 80 cents (down 3.6%).
Source: Reuters / Wire Reports
