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Windstream Executives Saw Pay Bump in 2014

2 min read

Several Windstream Holdings Inc. executives received pay increases in 2014 compared to the year before, according to the company’s annual proxy statement.

Jeff Gardner, the former CEO of Windstream Holdings Inc. of Little Rock who resigned late last year, received more than $7.4 million in compensation in 2014.

Gardner’s total compensation included a $1 million salary, about $5.4 million in stock awards, $378,000 in non-equity incentive plan compensation, $586,651 in the form of a change in pension value and $79,581 in other compensation, the company reported.

That was up from just more than $7 million in 2013, which included a salary of $1 million, stock awards of $5 million, almost $1 million in incentives and other compensation of $90,840.

Gardner’s replacement, CEO and president Tony Thomas, received nearly $3.4 million in total compensation in 2014, including a $538,461 salary, $2.6 million in stock awards, $127,400 in non-equity incentive plan compensation, $32,319 from a change in pension value and $61,843 in other compensation. Thomas made $2.1 million in 2013.

Thomas, who was designated to lead the company’s real estate investment trust spinoff, took over as CEO of Windstream after Gardner announced his resignation Dec. 11.

Other highlights from the report included:

  • Bob Gunderman, CFO and treasurer, received nearly $1.2 million in total compensation, including a $289,823 salary, $777,110 in stock awards, $33,302 in non-equity incentive plan compensation and $66,234 in other compensation. Gunderman was senior vice president and treasurer before being named an executive officer.
  • Windstream board chairman Jeffrey T. Hinson received $185,000 in cash, $99,992 in stock awards and $247 for travel insurance, bringing his total compensation to $285,239.
  • Francis X. “Skip” Frantz, chairman of the REIT’s board, received $579,242 in total compensation. That includes $115,000 in cash, $99,992 in stock awards, a $364,003 change in pension value and $247 for travel insurance.

The company plans to hold its 2015 annual meeting virtually on May 14 at 10 a.m.

Shareholders will consider proposals to:

  • Elect the company’s 10 directors
  • Vote on a non-binding advisory resolution on executive compensation
  • Approve amendments to the company’s certificate of incorporation and bylaws to allow stockholders to call special meetings of stockholders and to eliminate supermajority voting provisions
  • Ratify PricewaterhouseCoopers LLP as an independent registered public accountant for 2015
  • Transact other business
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