OLD Media Moves

TheStreet CEO Callaway paid $718,000 in 2016 compensation

May 1, 2017

Posted by Chris Roush

TheStreet redesignDavid Callaway, who became the chief executive officer of TheStreet.com last July, was paid $718,859 in compensation from the financial news site in 2016, according to a filing with the Securities and Exchange Commission.

Callaway was paid a salary of $244,493. His contract calls for a base salary of $500,000 for a year.

In addition, Callaway received $363,248 in stock option awards and a bonus of $61,123. He also received $43,981 in non-equity incentive plan compensation.

The former chief executive officer, Elisabeth DeMarse, received $1.38 million from the company in 2016, which included $1.1 million in a severance package.

Company founder Jim Cramer received $3.05 million in compensation in 2016 as part of an agreement that includes the licensing fee for use of his name and likeness, a royalty payment and reimbursement for certain expenses.

Cramer’s current contract with the company expires Dec. 31, 2017.

Callaway and chairman Larry Kramer were brought into the struggling company in 2016 to turn around its financial performance. Since that time, the company has laid off more than a dozen journalists.

However, its stock price has fallen below $1 per share and the company risks being delisted. A hedge fund is also taking aim at the company. The stock closed Monday at 85 cents, unchanged.

TheStreet’s annual meeting will be held May 31 at 8:30 a.m., at the offices of Orrick, Herrington & Sutcliffe LLP, 51 West 52nd Street, New York.

The SEC filing can be found here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.