Financial news site TheStreet.com paid co-founder Jim Cramer a total of $3.05 million in 2014, according to the company proxy statement filed with the Securities and Exchange Commission.
Cramer was guaranteed a royalty fee of $2.5 million for the year. The total includes a $300,000 licensing fee for use of his name and likeness, the royalty payment and reimbursement for certain expenses as provided for in an agreement Cramer has with the company.
He was paid $1.48 million in royalties in 2013 under a previous royalty agreement.
Elisabeth DeMarse, the chief executive officer and chairman of financial news company TheStreet, received a 20 percent increase in her base salary in 2014 to $480,000, according to the company’s proxy statement.
The filing noted that it was the first raise for DeMarse since she joined the company in 2012, and “to provide her with an appropriate compensation level as a future incentive and to align her compensation more closely with the market generally.”
DeMarse’s total compensation for the year was $712,153, up 24.4 percent from the $572,536 she was paid in 2013 and included a $46,000 bonus and $147,233 in non-equity incentive plan compensation. She also received $38,920 in other compensation related to payments for a 401(k), life insurance and health insurance.
A large shareholder of TheStreet has asked others to their votes for any director election proposals and management compensation proposals in the company’s proxy statement. Cramer is up for re-election to the board.
The company’s annual meeting will be held Thursday, June 11, at 8:30 a.m., at the offices of Orrick, Herrington & Sutcliffe LLP, 51 West 52nd Street, in New York.
Read the proxy here.
