Sinclair Broadcast Group's chief executive, David D. Smith, earned $4.2 million last year, a 16 percent increase that included more than $2 million in stock option awards, the Hunt Valley-based broadcaster reported.
Compensation for Smith, who is also the company's president, included a $1 million base salary and $1 million in cash bonuses, the company reported Monday to the Securities and Exchange Commission.
The company said 94 percent of shareholders approved the company's executive compensation package last year in Sinclair's first-ever "say on pay" vote. Compensation was based on leadership skills, contributions to shareholder value and company performance, the filing said.
"We intend to continue to emphasize our pay-for-performance compensation philosophy that aligns long-term interests of our executives with those of our shareholders," the company said in its filing.