|
Quotes & Info
|
| MCCC > SEC Filings for MCCC > Form 8-K on 2-Mar-2009 | All Recent SEC Filings |
2-Mar-2009
Change in Directors or Principal 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.
|
|