Roger Ailes, the chairman and chief executive officer of Fox, a News Corp. subsidiary, has received stock in the parent company due to the financial performance of Fox Business Network.
In other words, Fox Business Network, which launched in October 2007, broke even during the past fiscal year.
The stock was trading at $16.25 on Friday afternoon, making the shares worth a bit more than $4 million to Ailes.
In addition, Ailes also received a $5 million salary and a $1.5 million bonus during the 2011 fiscal year. His total compensation for the year was $15.5 million, up from the $13.9 million he received the year before.
According to the proxy, Ailes would receive 350,000 shares when the EBITDA of the Fox Business Network is equal to or greater than $100 million.
The proxy can be found here.
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