Boyd Gaming Corp.'s top two officers each had their compensation rise by about 1 percent last year, the company's proxy statement filed Wednesday with the Securities and Exchange Commission reveals.
Executive Chairman William Boyd was paid a total of $2.9 million, including a $1 million salary that has remained the same for the past three years, the statement showed. His $700,000 cash bonus was down from $750,000 last year, but $1 million in stock grants and option grants marked a raise of $95,000. In a separate category, his use of the company jet was valued at $99,000.
CEO Keith Smith also received the same salary as the past three years, $1.1 million, and took a $110,000 cut in his cash bonus to $660,000, the statement showed. The value of his stock and option package rose by $153,000 to $1.6 million. As a result, his overall compensation finished at $3.4 million.
In addition, Boyd said its shareholders will be able to vote on two advisory measures as mandated by the Dodd-Frank financial overhaul law. One will ask whether they approve of the executive compensation disclosed in the proxy and the other will ask how often they want to vote on the issue. Because the measures are advisory, the company does not need to follow the results.