Chief of struggling RadioShack gets $5.5M in 2008

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by Associated Press

wfaa.com

Posted on August 15, 2009 at 4:50 PM

Updated Friday, Oct 16 at 12:34 PM

NEW YORK -- RadioShack chairman and CEO Julian Day received a compensation package valued at nearly $5.5 million.

Details are in an Associated Press analysis today of a regulatory filing.

Day's compensation more than doubled the total from a year ago, even as the Fort Worth-based electronics retailer struggled.

But nearly 60 percent of Day's compensation came in the form of stock options that are currently "under water" and therefore of little value.

Day, who's 56, received a salary of just over $1 million, which is a marginal increase over the prior year.

AP reviewed a proxy filed with the Securities and Exchange Commission.

Day received a performance-related cash bonus of $1.2 million, down more than 19 percent from 2007. Other compensation, including insurance premiums, 401(k) contributions and matching charitable contributions, totaled $14,696.

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