Steve Wynn got $6.2 million raise in 2010, filing shows
13 April 2011
VEGAS INC Coverage
Steve Wynn took home more than $14.6 million in 2010 in his role as Wynn Resorts chairman and CEO, an increase of about $6.2 million from his compensation package in 2009.
According to a recent filing with the Securities and Exchange Commission, Wynn’s compensation package included a base salary of $2.95 million and a bonus of $3.22 million.
He also received non-equity compensation of $6.9 million and $1.54 million in all other compensation, which included use of the company aircraft, a company-provided villa and medical and life insurance.
VEGAS INC and the Sun calculate total compensation based on an executive’s base salary, bonus, non-equity compensation, change in pension, all other compensation, options exercised and stocks vested. The calculation doesn't include stock and option awards until the stocks vest or options are exercised.
Wynn’s 2009 compensation package totaled about $8.4 million, which included a $2.95 million base salary, $4 million in bonuses and $1.37 million in all other compensation. Wynn ranked at No. 1 on In Business Las Vegas’ 2009 list of the highest-paid executives.
In February, Wynn Resorts announced through an SEC filing that Wynn’s base salary would be increasing to $4 million. The change was effective Feb. 24.
Marc Schorr, chief operating officer of Wynn Resorts, received $8.15 million in compensation in 2010, an increase from the $5 million he received in 2009, according to VEGAS INC calculations.
Schorr's compensation package in 2010 included a base salary of $1.84 million, a bonus of $600,000, non-equity compensation of $3.4 million and $2.3 million in all other compensation.
Wynn Resorts Chief Financial Officer and Treasurer Matt Maddox took home about $3.55 million in 2010, which included a base salary of about $1 million, non-equity compensation of $2 million and $511,000 in all other compensation. In 2009, Maddox earned $8.9 million in compensation, according to VEGAS INC calculations.
Linda Chen, president of Wynn International Marketing, received an estimated $6.2 million in total compensation, an increase from $2.8 million in 2009.
Kim Sinatra, general counsel and secretary, received $2.13 million in 2010 compared to the $4.52 million compensation package she received in 2009, according to VEGAS INC calculations.
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