XM Radio 2010 Annual Report Download - page 40

Summary Compensation Table
The following table provides information concerning total compensation earned or paid to our Chief
Executive Officer, our Chief Financial Officer and our four other most highly compensated executive officers
who served in such capacities as of December 31, 2010 for services rendered to us during each of the past
three fiscal years. These six officers are referred to herein as the named executive officers.
Name and Principal Position Year
Salary
$
Bonus(2)
$
Stock
Awards(3)
$
Option
Awards(3)
$
All Other
Compensation(4)
$
Total(5)
$
Mel Karmazin . . . . . . . . . . . . . . . . . 2010 1,500,000 8,400,000 — — 7,350 9,907,350
Chief Executive Officer . . . . . . . . . 2009 1,250,000 7,000,000 — 35,209,440 7,350 43,466,790
2008 1,250,000 — — — 6,900 1,256,900
Scott A. Greenstein. . . . . . . . . . . . . . 2010 925,000 1,150,000 — — 7,350 2,082,350
President and Chief 2009 850,000 1,000,000 850,035 7,986,116 27,134 10,713,285
Content Officer 2008 845,834 — 440,003 1,123,873 6,900 2,416,610
James E. Meyer . . . . . . . . . . . . . . . . 2010 1,100,000 1,500,000 — — 159,888 2,759,888
President, Operations and Sales 2009 950,000 1,250,000 1,000,022 11,500,278 176,632 14,876,932
2008 945,834 — 512,502 1,309,025 152,967 2,920,328
Dara F. Altman(1) . . . . . . . . . . . . . . 2010 446,332 700,000 — 750,046 7,350 1,903,728
Executive Vice President and 2009 446,332 600,000 500,029 750,139 19,006 2,315,506
Chief Administrative Officer 2008 92,986 — — — — 92,986
Patrick L. Donnelly . . . . . . . . . . . . . 2010 573,301 900,000 — 6,000,000 7,350 7,480,651
Executive Vice President, 2009 525,000 750,000 600,020 1,000,336 21,328 2,896,684
General Counsel and Secretary 2008 522,917 — 300,001 — 6,900 829,818
David J. Frear . . . . . . . . . . . . . . . . . 2010 750,000 1,000,000 — 1,600,022 7,350 3,357,372
Executive Vice President 2009 750,000 850,000 700,012 1,000,336 23,650 3,323,998
and Chief Financial Officer 2008 631,251 — 1,292,002 3,897,033 6,900 5,827,186
(1) Information for Ms. Altman is included for the period after September 26, 2008, the date she became an
employee.
(2) No bonuses were paid for 2008.
(3) The aggregate grant date fair value of restricted stock unit and stock option awards was computed in
accordance with Financial Accounting Standards Board (“FASB”) Accounting Standard Codification
(“ASC”) Topic 718 (excluding estimated forfeitures). The assumptions used in the valuation are discussed
in Note 13 to our audited consolidated financial statements in our Annual Report on Form 10-K for the
year ended December 31, 2010. Mr. Karmazin did not receive equity-based awards in 2008 or 2010.
(4) For each named executive officer in 2010, the amount in the “All Other Compensation” column reflects
$7,350 of matching contributions by us under our 401(k) savings plan paid in the form of shares of our
common stock. “All Other Compensation” for Mr. Meyer also includes amounts reimbursed for temporary
living and travel expenses, all of which are reimbursed based upon receipts. In 2010, Mr. Meyer was paid
$50,000 for rent, $30,397 for travel, $3,105 for utilities. Travel-related expenses include airfare, taxi/car
services, and other incidental travel-related costs. In addition, “All Other Compensation” for Mr. Meyer
includes $69,036 for reimbursement of taxes associated with these expenditures in accordance with his
employment agreement.
(5) The amount of compensation reported for federal tax purposes for Mr. Karmazin in 2009 was $1,620,316.
We are providing this information to highlight the difference between compensation reported under the
SEC rules and compensation amounts realized and reported as taxable income on Mr. Karmazin’s
Form W-2. The amount reported on Mr. Karmazin’s W-2 includes, among other items: (1) total cash wages
and bonuses paid to Mr. Karmazin in 2009, less amounts deferred under our 401(k) plan and (2) the value
of restricted stock awards that vested during 2009.
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