The company CEO, chairman and president benefited from new contract terms including special retention stock grants recognizing “the critical nature of [his] talent” in a year when Scripps Networks shares appreciated 33.5%. Ken Lowe‘s package included $1.3M salary, $7.4M in stock awards, $1.4M in option awards, $1.7M in non-equity incentives, $2M change in pension value, and $441,155 in other compensation according to the proxy filed at the SEC this morning. The “other” category includes $16,080 for dining, business, and country clubs. Lowe’s package is 3.1 times higher than the median for the four other highest-paid execs. That’s better than last year, when he made 3.5 times the median. But it’s still high enough to worry corporate governance watchdogs who say that a CEO’s pay can be considered out of whack when it’s at least 3 times higher than the average for his or her top colleagues. The annual meeting to be held May 14 in Knoxville, TN, likely will be relatively uneventful. The proxy shows that shareholders won’t be presented with controversial resolutions or an opportunity to vote on whether they approve of the executive compensation packages.
By DAVID LIEBERMAN, Financial Editor | Monday April 8, 2013 @ 10:24am EDTTags: Ken Lowe, Scripps Networks
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