The Atlanta-based TV station operator Gray Television is sending hefty checks to to some of its top executives in appreciation of a job well done. The Atlanta Business Chronicle reports that Gray is sending what the company calls “one-time discretionary cash incentive compensation awards” totaling more than $4 million to three executives.
“President and CEO Hilton H. Howell Jr. will get $2,488,900; Executive Vice President and Chief Financial Officer James C. Ryan will get $716,130; and Executive Vice President and Chief Legal and Development Officer Kevin P. Latek will get $870,014,” the publication reports.
The company said the payments are “in recognition of, among other things, the exceptional efforts and contributions made by the executive officers during 2016 in continuing to execute on the Company’s growth strategy despite unexpected challenges in the political advertising environment, in further strengthening the Company’s balance sheet, and in delivering continued strong performance in total shareholder return over the long term.”
…”delivering continued strong performance in total shareholder return over the long term.” WHAT PERFORMANCE ? Last 12 months high of 13.64 (hit 13.28 once) each time the stock crossed 13 the rally was SHORT LIVED and the stock promptly fell to around 10$ per share. Today – After a recent rally, stock sits at 11.75, almost 2 points under the yearly high. The 5 Year High is a little over 17.50. So where is the shareholder return ??? AS a small investor with 2,000 shares – I have literally NOTHING TO SHOW for the last 18 months.