The company’s record revenue results in 2017 were the result of having newly acquired stations in the lineup, which didn’t activate bonuses. But that didn’t mean Hilton Howell Jr., James Ryan and Kevin Latek were hurting — they all got stock rewards.
Gray Television reported record revenues for 2017, but it did not translate to record compensation for its three named executives, all of whom took a hit in the wallet compared to 2016.
The company’s record revenue results were the result of having newly acquired stations in the lineup. As such, the revenue increase was in the as-reported chart, but was not duplicated on a pro forma basis. When calculated the latter way, the odd-year’s lack of political and Olympics cash put a significant dent in the group’s station-by-station income.
Nevertheless, Gray’s board was happy with the results achieved by President-CEO Hilton H. Howell Jr., EVP-CFO James C. Ryan and EVP-Chief Legal and Development Officer Kevin P. Latek.
The general approval of the trio’s performance was reflected in increased 2017 stock awards and the grant on non-equity compensation which during 2016 was $0 in all three cases. They credited the execs with satisfying 13 of 13 qualitative metrics and four out of four “absolute measures” in making the grant.
For those of you keeping score at home, the four absolute measures are:
However, the board declined to pay out bonuses for 2017, and the result was lower overall compensation for all three execs. Of the three, Howell had the most to lose, and he did, falling more than $930,000, a drop of almost 17%.
2017 Revenue: $882.7M |
|||||
|---|---|---|---|---|---|
| Title | 2016 Comp. | 2017 Comp. | % Rev. | % Ch. YOY | |
| Hilton H. Howell Jr. | Pres.-CEO | $5,498,853 | $4,566,919 | 0.52% | -16.9% |
| James C. Ryan | EVP-CFO | $2,050,987 | $1,950,492 | 0.22% | -4.9% |
| Kevin P. Latek | EVP-Legal | $2,348,911 | $2,185,175 | 0.24% | -7.0% |
16 May 2024
23 May 2024
Comments (12)
Cheryl Thorne says:
March 22, 2018 at 7:00 am
The most overpaid people in the country…..what a joke…not one of them has ever sold a spot or run a station in their lives..They need to set an example but if you know these guys this is par for the course!!! Two are attorneys ..What do you expect!!!
Cheryl Thorne says:
March 22, 2018 at 7:02 am
..by the way their stock is down 32% from January…Beautiful work if you can get it….
Debra Rein says:
March 22, 2018 at 8:49 am
Their stock is down because they diluted their fellow shareholders in December by giving away 25% of the company shares to an investment group for $14/share when the public value was $15.50. Might be the worst move I’ve seen in stock management by the broadcasters in some time. . While others are buying back stock, and they are too, they give away 25% of the company for 10% less than the street valued it. Well, I guess their incompetence is coming home to roost now. I had a significant position in GTN until January when I totally liquidated that position when I realized what fools these guys were. Right before they were starting a year where everything was in line for a huge success they can’t get out of their own way.
Mark Annas says:
March 22, 2018 at 10:08 am
Would be laughable if not so pathetic. Why has there not been any stockholder action taken against these guys and the board? The television station business is doomed as long as incompetence is accepted as the norm.
Cheryl Thorne says:
March 22, 2018 at 10:17 am
this company cannot have huge success because they (mostly) hire GM’s to run their stations that are C students at best.All the good GM’s left or were let go because they were too smart for these clowns…They are run by a guy who married into the business and is more interested in his image than in results..Also the regional heads are maybe C students and their digital platforms are laughable..The people running the regions and the GM’s have a hard enough time selling their commercials let alone selling digital platforms…This company will spiral down as long as Thurston is in charge..
Snead Hearn says:
March 22, 2018 at 3:37 pm
Knowledgeable, experienced and talented GM’s, ND’s and SM’s leaving the company…. Stock dropping like a rock… Corporate VP’s running stations from afar with GM’s unable to make proper decisions…. Sounds like a recipe for failure even with a year where it will be difficult to get out of the way of all the money….
Cheryl Thorne says:
March 22, 2018 at 7:01 pm
A year where its going to be difficult to get out of the way of the money…Syas who…Please explain???..Local station revenues will be lucky to be +small single digits even with the Olympics and Political..Dont think political is going to bail these guys out this year
Cheryl Thorne says:
March 22, 2018 at 7:01 pm
Plus they overpaid for every station they purchased in the last 5 years!!!
Matt Hortobagyi says:
March 27, 2018 at 11:24 am
The voting control of the company is totally in the hands of Mack Robinson’s family (Hilton’s wife and mother in law). Those shares have 10 to 1 voting rights to other shares held by the public. Nothing will change as long as that is the situation. Prior to Mack Robinson death, Mr. Robinson would have never allowed these obscene salaries nor make these acquisition of these obscure small stations that no one would purchase. Mack Robinson was a self made billionaire. He is turning over in his grave as Hilton has turned Gray into a mess. There is no end game. No one would buy this group or merge with them.
Cheryl Thorne says:
March 27, 2018 at 2:29 pm
Hilton Howell is a narcissist and he hired a Gay attorney to be his “acquisition Specialist”? who publicly posts pictures with his boyfriend on various social platforms?? So they paid too much for all the stations they bought and they are the laughing stock of the broadcast business…They both need to go, as well as their vapid regional managers and half the GM’s..They have this husband and wife team who one is supposed to be a digital expert and the wife..who knows what she does Inside the company…. she’s known as the “Interloper”.If the owners who built broadcast groups knew their stations were going into Hiltons’ hands they would have sold to someone else….but then again..It’s PT Hilton. came along.Hey Hilton..Post another picture of yourself with your shirt open ….Wow..Joke!!
Matt Hortobagyi says:
March 27, 2018 at 7:40 pm
You are right Hilton needs to wear a tie or at least button up the top four buttons of his shirts.
Cheryl Thorne says:
March 28, 2018 at 5:36 pm
He needs a lot more than to put a tie on….