DENVER—The chief executive of Vail Resorts Inc. received compensation valued at $1.9 million in fiscal 2007, including ski school and lodging privileges, according to a regulatory filing submitted Friday.
Robert Katz earned a base salary of $829,929 but no bonus.
Katz also received $1.01 million in non-equity incentive plan compensation and $19,754 in other compensation, including contributions for insurance, matching 401(k) funds and $9,057 in lodging and ski school privileges and discretionary money for goods and services at resort properties.
The company outlined the compensation package Friday in a Securities and Exchange Commission filing. It set an annual meeting Dec. 7 where shareholders will elect board directors and approve annual incentive compensation, among other business.
The Associated Press calculations of total pay include executives’ salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. This figure may vary from the total compensation of company’s report.
Katz became a company director in June 1996 and was appointed CEO 10 years later.
Vail Resorts, the nation’s largest ski operator, posted a 34 percent increase in net income to $61.4 million in fiscal 2007.
The company credited the year-over-year improvement in net income to more destination skiers, although the overall number of skiers dipped 1 percent; higher lift ticket prices and more revenue in support services such as ski schools, lodging and dining.
Vail Resorts’ stock closed up 74 cents at $61.37 a share in Friday trading.
Based in the Denver suburb of Broomfield, Vail Resorts owns and operates Vail, Beaver Creek, Keystone and Breckenridge ski areas in Colorado, Heavenly in Nevada and California, and Grand Teton Lodge Co. near Jackson, Wyo.
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