According to Sinclair’s 2018 proxy, its report on payments to named executives include David D. Smith, Christopher S. Ripley, David B. Amy, Lucy A. Rutishauser and Barry M. Faber. Rutishauser, who is a newcomer to the NEO chart, moved forward largely as a result of a $375,000 increase in salary and a $200,000 bonus, shooting up her total from about $544,000 to better than $1.15 million. Smith tops the list at $6.6 million.
Lucy A. Rutishauser was able to climb some rungs on Sinclair Broadcast Group’s corporate executive ladder during 2017 and was amply rewarded with more than double the earnings she took home in 2016. But the up-pointing arrow on her compensation chart wasn’t duplicated by all of the company’s execs.
According to Sinclair’s 2018 proxy, its report on payments to named executives include the president-CEO, the SVP-CFO and the next three highest-paid executives.
Rutishauser, who is a newcomer to the NEO chart, moved forward largely as a result of a $375,000 increase in salary and a $200,000 bonus, shooting up her total from about $544,000 to better than $1.15 million.
Her arrival caused EVP-COO Stephen M. Marks to slip off the chart after earning $1.18 million in 2016. Since he is no longer listed, his 2017 income was not reported.
Executive Chairman David D. Smith remained at the top, enjoying a $1.4 million increase to more than $6.6 million — tied almost entirely to increased stock option awards.
Although receiving a raise in salary of about $470,000, President-CEO Christopher S. Ripley suffered an overall reversal of almost $70,000 as the salary increase and a $140,000 non-equity incentive bonus failed to offset a decreased cash bonus and the absence of a 2016 option award which amounted to almost $490,000.
David B. Amy, the company’s vice chairman, enjoyed modest increases in several compensation categories en route to a gain of roughly $178,000 to $1.635 million.
The biggest loser seemingly was EVP-General Counsel Barry M. Faber, but it was a misleading statistic. He enjoyed across-the-board increases in most categories, but did not receive a very large 2016 longevity bonus of about $3 million, the lack of which nearly halved his total compensation.
Rutishauser, incidentally, is due to receive a longevity bonus herself — $2.5 million is to be awarded on Dec. 8, 2023, if she’s still with the company.
Sinclair does not have an employment contract with Smith, but does with the other four NEOs. However, all of them are open-ended with no specific termination date. Those of Ripley, Faber and Rutishauser were amended last year.
Here is the compensation chart for Sinclair’s five NEOs:
2017 Revenue: $2.734B
|Title||2016 Comp.||2017 Comp.||% Rev.||% Ch. YOY|
|David D. Smith||Pres-CEO||$5,206,439||$6,638,369||0.24%||+27.5%|
|Christopher S. Ripley||CEO||$1,904,244||$1,836,332||0.07%||-3.6%|
|David B. Amy||EVP-COO||$1,457,032||$1,635,155||0.06%||+12.2%|
|Lucy A. Rutishauser||SVP-CFO||$544,424||$1,153,473||0.04%||+111.9%|
|Barry M. Faber||EVP-GC||$4,494,970||$2,269,752||0.08%||-49.5%|