Washington – Liberty Media Corp. said Thursday that chairman John C. Malone received total compensation for 2005 of $2.4 million, up from $2.2 million in 2004.
Both figures exclude the granting of stock options.
According to a definitive proxy, the Douglas County- based media company said Malone received a 2005 salary of $2,600, other annual compensation of $2.4 million and all other compensation of $459.
For 2004, he received a salary of $2,700, other annual compensation of $2.2 million and all other compensation of $270.
Also, the company said it granted Malone 2 million stock options for 2005, compared with no grant for 2004.
Liberty Media said 1.8 million of the 2005 stock options relate to its Series B common stock and that the remaining 200,000 options relate to its Series A common stock.
The Series B options have a grant date present value of $6.8 million under the Black-Scholes option-pricing model, which calculates the value of an option by considering the stock price, the expiration date and other factors.
The Series B options have an exercise price of $10.80 a share and expire June 14, 2015, while the Series A options have an exercise price of $10.47 a share and expire on the same date.
