Hesse Sees a 31 Percent Increase in Compensation, as Sprint’s Finances Continue to Stumble
As Sprint continues to wrestle with financial drama ($1.3 billion net loss in 2011), the Now Network’s commander-in-chief Dan Hesse still managed to see a 31% bump in compensation. A recent regulatory filing spilled the beans revealing that Hesse saw a payout of $11.9 million in 2011, eclipsing his 2010 compensation by a bit over $2 million. In addition to an increase in pay, Hesse also received stock awards of $3.22 million and non-equity incentive plan compensation of $4.84 million. With Sprint’s shares dropping 45% in 2011, odds are that Hesse’s increase in earnings won’t be winning over many investors and financial analysts, as his judgement has already been called into question. Hesse, you’ve got some ’splainin to do!