XM Radio 2011 Annual Report Download - page 41

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, 2011 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
$
Stock
Awards(1)
$
Option
Awards(1)
$
All Other
Compensation(2)
$
Total(3)
$
Mel Karmazin ...................... 2011 1,500,000 9,200,000 — — 7,350 10,707,350
Chief Executive Officer 2010 1,500,000 8,400,000 — — 7,350 9,907,350
2009 1,250,000 7,000,000 — 35,209,440 7,350 43,466,790
Scott A. Greenstein .................. 2011 1,000,000 1,250,000 — — 7,350 2,257,350
President and Chief
Content Officer
2010 925,000 1,150,000 — — 7,350 2,082,350
2009 850,000 1,000,000 850,035 7,986,116 27,134 10,713,285
James E. Meyer ..................... 2011 1,100,000 1,750,000 — — 236,221 3,086,221
President, Operations and Sales 2010 1,100,000 1,500,000 — — 159,888 2,759,888
2009 950,000 1,250,000 1,000,022 11,500,278 176,632 14,876,932
Dara F. Altman ...................... 2011 465,666 775,000 — 7,470,308 7,350 8,718,324
Executive Vice President and
Chief Administrative Officer
2010 446,332 700,000 — 750,046 7,350 1,903,728
2009 446,332 600,000 500,029 750,139 19,006 2,315,506
Patrick L. Donnelly .................. 2011 575,000 1,050,000 — — 7,350 1,632,350
Executive Vice President,
General Counsel and Secretary
2010 573,301 900,000 — 6,000,000 7,350 7,480,651
2009 525,000 750,000 600,020 1,000,336 21,328 2,896,684
David J. Frear ....................... 2011 795,833 1,100,000 — 18,895,552 7,350 20,798,735
Executive Vice President
and Chief Financial Officer
2010 750,000 1,000,000 — 1,600,022 7,350 3,357,372
2009 750,000 850,000 700,012 1,000,336 23,650 3,323,998
(1) The aggregate grant date fair value of 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 15 to our audited
consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31,
2011.
(2) For each named executive officer, the amount in the “All Other Compensation” column for 2011 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 2011, Mr. Meyer was paid
$70,000 for rent, $52,309 for travel and $5,240 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 $101,322 for reimbursement of taxes associated with these expenditures in accordance with his
employment agreement.
(3) 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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