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Mays’ Compensation: $7.2 Million in 2003

Mays’ Compensation: $7.2 Million in 2003

The CEO of Clear Channel Communications received pay and benefits valued at $7.2 million in 2003, according to a report in the San Antonio Express-News, citing a Securities and Exchange Commission filing.
Radio’s biggest company paid Lowry Mays $2.01 million in salary and bonus and gave him stock options valued at $4.27 million, the newspaper said. He also received restricted stock worth $915,500 that he can sell in five years.
His compensation was more than double the previous year’s, although the newspaper quoted an observer of executive salaries as saying 2002 was an anomaly because Mays didn’t receive stock options that year.
Sons Mark P. and Randall T. Mays each received $1.69 million in salary and bonus and $915,000 in restricted stock, as well as stock options valued at $4.27 million.