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Stern gets $82.9 million stock bonus |
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Written by asap
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Tuesday, 09 January 2007 |
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 Howard Stern has about 83 million more reasons to be grateful for his fans.
Sirius Satellite Radio Inc. paid Stern an $82.9 million stock bonus after the company beat a subscriber target set two years ago when it lured the star away from terrestrial radio. The stock bonus is on top of Stern's five-year, $500 million pay package that he signed in October 2004.
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SIGNING UP
Sirius ended last year with just over 6 million subscribers, compared with projections of about 3.5 million from Wall Street analysts when the company signed Stern's employment agreement.
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THERE'S MORE
Stern could stand to gain other stock bonuses in the future if the company meets annual subscriber targets, but these would have to be beat by a far greater amount, Sirius said in a statement.
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