In a year when Time Warner Inc. posted its best quarter ever, Time Warner chief executive Gerald M. Levin saw his 1993 bonus soar 60% to $ 4 million.
Levin received $ 5.3 million in total cash compensation, according to the company’s proxy statement filed with the Securities and Exchange Commission.
That figure includes the bonus, a salary of $ 1.05 million and $ 243,784 in other compensation. In the previous year, Levin’s salary was the same, his bonus was $ 2.5 million and other compensation was about $ 250,000.
Levin also received options for 1 million common shares of Time Warner stock. Those options, excercisable at prices from $ 31.19 to $ 48.29 a share, could be worth from $ 14.22 million to $ 45.1 million if company stock rises 5% to 10% annually over the term of the options.
The other top four execs received increased bonuses as well, although smaller than Levin’s.