Newly formed Sprint Nextel Corp. released base salary and incentive targets for several of its executives in a Securities and Exchange Commission filing.
Sprint Nextel Chief Operating Officer Len Lauer is set to receive $971,400 in base salary next year, while Chief Financial Officer Paul Saleh will receive $750,000 in base salary. Chief Strategy Officer Thomas Kelly will also receive $750,000 in base salary and was granted immediate vesting of more than 580,000 stock options.
Sprint Nextel also reported that general counsel Leonard Kennedy will receive $500,000 in base salary next year, and Barry West, chief technology officer, will pocket $425,000 in base salary.
Sprint Corp. reported earlier this year that Gary Forsee, chief executive, and Lauer would be eligible to receive cash incentives of 100 percent of their base salaries and short-term incentive targets, with half paid following the closing of Sprint’s acquisition of Nextel Communications Inc. and the remaining incentives paid a year later.
Nextel’s board of directors approved a $1.8 million bonus for former CEO and current Sprint Nextel Chairman Tim Donahue and an $800,000 bonus for Kelly.
