Sprint Nextel Corp. (NYSE: S) CEO Dan Hesse received compensation valued at $12.3 million in 2009, down 13 percent from last year, according to an Associated Press analysis of a regulatory filing Monday.
Hesse, 56, received a salary of $1.2 million and a performance-based bonus of $1.3 million in 2009, according to a proxy statement filed with the Securities and Exchange Commission. The majority of his pay package came as stock and options awards valued at a total of $9.8 million when they were granted in February of 2009.
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Hesse also received other compensation worth $42,365, which included $24,833 in contributions to 401(k) and deferred compensation plans, as well as $17,532 in perks.
Hesse came to Sprint in late 2007 from Embarq Corp., which spun off from Sprint. In 2008, he received compensation valued at $14.2 million.
For 2009, Sprint reported a loss of $2.4 billion, or 84 cents per share, compared with a loss of $2.8 billion, or 98 cents per share, in 2008. Revenue fell 9 percent to $32.3 billion.
The company ended 2009 with 48.1 million customers, down from 49.3 million in 2008. It is still the country's third largest wireless provider, but its customer count is far less than that of market leader Verizon Wireless' 91.2 million, and AT&T's 85.1 million.
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