Posted Thursday, April 19, 2007 9:37 AM | Contributed by Jeff
Six Flags paid CEO Mark Shapiro, 37, $1.1 million in salary and was awarded 250,000 shares of restricted stock valued at $618,000 and 950,000 stock options valued at $2.3 million, according to an SEC filing. Half his stock options vest in phases over the next four years and half only if stock in Six Flags hits preset price targets. Shapiro's restricted stock vests in 2009 and 2010. He was not paid a bonus because the company did not meet its earnings target.
Read more from The Washington Post.
Thursday, April 19, 2007 10:33 AM
Well at least now he can afford the parking fees at his own parks. :)
Thursday, April 19, 2007 10:49 AM
Poor widdle baby didn't get his bonus. I feel bad for him.
Thursday, April 19, 2007 1:09 PM
Maybe now he knows how it feels to be raped by SF.
Thursday, April 19, 2007 2:37 PM
I didn’t see any crying or whining quotes from Mark Shapiro in that article so why does it deserve such an immature response? The compensation package for his position is not out of line. It’s not a job that any “jack” can handle and therefore it deserves to be properly compensated. Do you really think he expected to make his bonus last year? It was a long shot. However, a bonus is an important part of his compensation since it is usually directly tied to performance. To be fair though Mark Shapiro’s performance should be judged by what happens this year, not last year. The operating plans, capital improvements, etc., for last year were already in place when he took over the company.
*** This post was edited by egieszl 4/19/2007 2:37:41 PM ***
Thursday, April 19, 2007 10:40 PM
Agreed. In fact, I'd say that generally this is one of those rare occasions where overall this is pretty reasonable for the executive of a public company, particularly in a case where the guy is brought in to clean up someone else's mess.
Friday, April 20, 2007 10:05 AM
Yah...this is a drop in the bucket compared to what some CEOs get especially given the performance of their company.
Friday, April 20, 2007 1:11 PM
I'm trying to figure out how it cost that Speed guy $382,000 to move from Europe. Those are some pretty damn expensive movers. Or did they pick up his whole house and fly it across the Atlantic?
I'm also wondering about the stock prices mentioned in the article. They're saying 250,000 shares is worth only $618,000? That's less than $2.50 a share. Is that what it's going for now? Or are they just low-balling it to make his income seem lower than it really is?
Friday, April 20, 2007 1:36 PM
Its restrticted stock that won't be fully vested until 2009 and 2010. It won't be worth the full value until then.
(if I understand things correctly)
Sunday, April 22, 2007 9:11 AM
It’s not a job that any “jack” can handle and therefore it deserves to be properly compensated.
So this is why firefighters and paramedics are only paid about $35,000 a year? Give me a break and call it what it is, a silver spoon job.
Sunday, April 22, 2007 3:40 PM
Firefighters and paramedics are trained and certified, and that's that. It's dangerous and physical, but that doesn't make it "hard" per se. If you've never even had the chance to run a small business, then you wouldn't have a single clue about how a giant public company runs.
Sunday, April 22, 2007 4:17 PM
Firefighters and paramedics don't have it hard? I'm glad you think so. Maybe you should drop by your local firehouse and share your feelings with those who protect your community. I invite you to come spend a shift with me any day. Next time you're in Baltimore, look me up. After 24 hours of little to no sleep, cold or missed meals, being away from your family and the possibility of not even coming home in the moring, maybe you'll rethink that statement. And I know how it is to run a small business, my parents did it for years.
Shipiro has a silver spoon job. He knows it, you know it, I know it, and everybody else knows it. Sure he takes the fall if the company does not do well, just as he takes the glory if they do. But he has his flunkies that make the day to day operation work. He's just the guy sitting on the throne.
Sunday, April 22, 2007 11:00 PM
Dude, don't tell me what I know. This is not about hurting anyone's feelings or trivializing anyone's job. Stop taking it personally. If I wanted to do a public service job, I could train for it and do it, and part of that involves making the choice and knowing it doesn't pay well.
Being the CEO of a public company doesn't work that way. I can't train for it. I can work in business and over time acquire expertise in corporate finance, tax law, HR, IT, supply chain, marketing, etc., but that's not someone can do right out of high school.
Executives are rarely saving lives or curing cancer, but most of them do earn what they make, and there are few people qualified to run a company that large. Getting into a moral debate about what public safety workers, teachers or whatever are paid in comparison does not serve to trivialize their skill set any more than it does to trivialize your job.
Monday, April 23, 2007 12:19 PM
We'll just have to agree to end this here in a civil manner. I still contend that many, not all, corperate CEO's are only there because they look good in the suit. It's the people under them that have the knowledge to make it all come together.
Monday, April 23, 2007 5:46 PM
"...there are few people qualified to run a company that large."
And there are some who would say Shapiro isn't one of them.
RGB, Just stirrin' the pot.
Monday, April 23, 2007 7:13 PM
You might be right. I think we'll have a more informed opinion about a year from now.