Gray Television said CEO Hilton H. Howell Jr.’s total compensation fell 27% to $8.89 million in 2020, the company reported.
In a filing with the Securities and Exchange Commission, Gray reported that Howell’s salary rose slightly to $1.23 million, but he received small stock awards and non-equity incentive plan compensation.
President and co-CEO Donald P. (Pat) LaPlatney’s compensation rose 8% to $4.13 million.
Also Read: Gray TV Makes $28.5 Million Bet on Envy Gaming
LaPlatney’s salary rose to $1.04 million and he got stock awards of $1.77 million and non-equity incentive pay of $1.17 million.
James Ryan, the CFO, Keven Latek, the chief legal and development officer, and Robert L. Smith, executive VP and COO of the local media group, all saw their total compensation drop significantly to just below $3 million.
Also Read: Gray Reports Higher Fourth-Quarter Profits
“In evaluating the bonus payouts for 2020, the Compensation Committee took special note of the extraordinary efforts during the pandemic, and the contributions that each [named executive officer] made to the Company’s success in addressing the challenges presented in 2020, and determined that each NEO was entitled to an individual performance adjustment, as provided in the previously adopted annual non-equity incentive compensation program, of +20%,” the company said. “As a result, the total payout for each of the NEOs under the annual non-equity incentive program for 2020 was 141% of target.”
