From NBC12 News
Circuit City's chief executive received compensation in fiscal 2008 valued by the company at about $2.1 million.
Philip Schoonover's compensation is far less than the $17.1 million he earned in the prior fiscal year. That's mainly because in fiscal 2007, he received stock and stock options worth $16 million when granted from his promotion to CEO in March 2006.
According to a proxy statement filed late Thursday with the Securities and Exchange Commission, Schoonover received stock and stock options worth just $994,000 when granted in fiscal 2008.
Schoonover also received about $900,000 in base pay.
Besides the salary and stock options, Schoonover was paid $178,105 in other compensation, or "perks'' from the electronics retailer that reported a loss of $319.9 million in its last fiscal year.