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MCCC > SEC Filings for MCCC > Form 8-K on 2-Mar-2009All Recent SEC Filings

Show all filings for MEDIACOM COMMUNICATIONS CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MEDIACOM COMMUNICATIONS CORP


2-Mar-2009

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 26, 2009, the Compensation Committee of Mediacom Communications Corporation (the "Registrant") approved the compensation arrangements of the Registrant's named executive officers (the "Named Executive Officers") as follows:
Annual Base Salary
Based on the recommendation of the Chairman and Chief Executive Officer, the Compensation Committee determined that no salary increase will be awarded to the Chairman and Chief Executive Officer in 2009, who last received a salary increase in 2006.
Based on the recommendation of the Chairman and Chief Executive Officer, the Compensation Committee also determined that no salary increases will be awarded to the other Named Executive Officers in 2009. Bonus
The Compensation Committee approved for the Named Executive Officers the following bonus payments for their performance in 2008:

                      Rocco B. Commisso         $ 1,275,000
                      Mark E. Stephan           $   165,000
                      John G. Pascarelli        $   165,000
                      Italia Commisso Weinand   $   125,000
                      Joseph E. Young           $   125,000


Stock Option Grants
   The Compensation Committee approved for the Named Executive Officers the
following stock option grants under the Registrant's 2003 Incentive Plan for
their performance in 2008 at an exercise price of $3.95 per share, which was the
closing price of the Registrant's Class A common stock on February 26, 2009:

                      Rocco B. Commisso           510,000 (1)
                      Mark E. Stephan             102,000 (2)
                      John G. Pascarelli          102,000 (2)
                      Italia Commisso Weinand      59,000 (2)
                      Joseph E. Young              59,000 (2)

(1) The options are subject to vesting in three equal annual installments, commencing on February 26, 2010, and expire on February 25, 2019.

(2) The options are subject to vesting in four equal annual installments, commencing on February 26, 2010, and expire on February 25, 2019.

Restricted Stock Unit Grants
   The Compensation Committee approved for the Named Executive officers the
following restricted stock unit grants under the Registrant's 2003 Incentive
Plan for their performance in 2008:

                      Rocco B. Commisso           290,000 (1)
                      Mark E. Stephan              60,000 (2)
                      John G. Pascarelli           55,000 (2)
                      Italia Commisso Weinand      32,000 (2)
                      Joseph E. Young              32,000 (2)

(1) The restricted stock units are subject to vesting in three equal annual installments, commencing on February 25, 2010.

(2) The restricted stock units are subject to vesting in four equal annual installments, commencing on February 25, 2010.


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