Higher Pay for Lowe4/10/2012 12:58 PM Eastern
Scripps Networks Interactive chairman and CEO Ken Lowe received a 17% hike in total compensation in 2011, raking in $9.7 million compared to the $8.3 million he received in the prior year.
According to a proxy statement filed with the Securities and Exchange Commission Tuesday, Lowe received a base salary of $1.2 million and option awards of $1.49 million, comparable with prior years. The difference was in stock awards ($2.9 million, vs. $1.6 million in 2010) and pension value and non-qualified deferred compensation of $2.1 million (vs. $1.7 million in the prior year).
While Lowe saw his total compensation climb, chief financial officer Joseph NeCastro saw his total compensation fall by about 45.5% to $3.6 million from $6.6 million in 2010. NeCastro received a base salary of $775,000, option awards of $702,097 and on-equity incentive plan compensation of $549,729 in 2011, all comparable to the prior year. His stock awards for the year were substantially lower -- $930,050 in 2011 compared to $4.1 million in 2010 - which sent his overall compensation southward.
Scripps Networks president John Lansing also saw a major reduction in stock awards during the year -- $1.1 million in 2011 vs. $4.1 million in 2010, which sent his overall compensation down 42.6% to $3.9 million compared to $6.8 million in 2010.