The Providence Journal’s parent company, A.H. Belo, shaved its top executives’ compensation in 2011 after more than doubling their pay in 2010, according to a Securities & Exchange Commission filing.
A.H. Belo awarded CEO Robert Decherd $1.6 million last year, down 14% from $1.9 million in 2010, and up 222% from $499,180 in 2009, the filing said.
Decherd’s pay included a $480,000 salary, $899,997 in stock awards, a $168,474 cash bonus and $61,441 in other benefits. Decherd’s salary rose to $600,000 a year effective this month, a separate filing said.
The Dallas-based company awarded Executive Vice President James Moroney $1.1 million in 2011, down from $1.3 million in 2010; Chief Financial Officer Alison Engel $626,091, down from $800,001; Senior Vice President Daniel Blizzard $424,991, down from $575,000; and departing executive John McKeon $891,788, down from $1.3 million. The first three executives’ base salaries also increased this month.
A.H. Belo posted a net loss of $10.9 million in 2011, compared with a net loss of $124.2 million in 2010, as revenue fell 5% to $461.5 million. The company’s stock is down almost 3% this year based on Tuesday’s closing price of $4.62 a share, after declining 45% in 2011.
• Related: Projo parent AH Belo’s board awards big raises to top bosses (March 20)