TALKING BIZ NEWS EXCLUSIVE
David Morrow, the editor in chief of TheStreet.com, received a 61 percent increase in total compensation in 2008. according to the company’s proxy statement.
Morrow’s total pay was $495,157, up from the $294,548 he was paid in 2007. The proxy did not provide any compensation data for Jim Cramer, a co-founder of the company, as it has in the past.
Morrow’s base salary rose just slightly, from $235,000 to $245,000. But he also received $75,375 in stock awards, up from $41,266 in 2007.
His stock options totaled $41,815 in 2008, more than double the $17,899 he received in the previous year.
The proxy also disclosed the following: “On February 12, 2009, the Company delivered to David Morrow, the Companyâ€™s Editor-in-Chief, a notice of non-renewal of his employment agreement with the Company.Â Â The notice advises Mr. Morrow that the Company will provide a new document detailing the terms of Mr. Morrowâ€™s continued employment prior to the expiration of his existing employment agreement, which occurs on August 23, 2009.”
Morrow, a former New York Times reporter,Â became editor in chief of TheStreet.com in July 2001.
Read the proxy here.Â