Tuesday, May 20, 2003
Copyright © Las Vegas Review-Journal
Mandalay Resort Group pays bonuses to executives
THE ASSOCIATED PRESS
Glenn Schaeffer
Mandalay Resort Group's president paid $1.32 million bonus
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Mandalay Resort Group awarded hefty bonuses to its top executives for the fiscal year ending Jan. 31.
Glenn Schaeffer, president and chief financial officer, earned a bonus of $1.32 million, up $785,000 from the previous fiscal year, according to a proxy statement filed Monday with the Securities and Exchange Commission.
Schaeffer's base salary was $825,000 for the year ending Jan. 31. Schaeffer also realized stock options worth $15.4 million, according to the statement.
Michael Ensign, chairman and chief executive, received a bonus of $1.75 million for the year, which included a "discretionary bonus of $750,000 in order to more closely align his compensation with his counterparts at comparable gaming companies," the SEC filing stated.
His bonus for the previous fiscal year was $800,000.
Vice Chairman William A. Richardson earned a bonus of $1.65 million, up from $740,000 the previous year.
