A proxy filed by the Washington Post Co. disclosed that
Washington Post
publisher Katharine Weymouth — granddaughter of Katharine Graham, who led the company during the Watergate era –received a bonus of $483,750 on top of her salary in 2010, the business blog
Footnoted.com reported.
The bonus was awarded “based on the achievement of pre-established 2010 performance goals,” the proxy stated, according to the blog report.
Weymouth received an additional $1,053,441 “based on achieving pre-established goals under the WP Media Three-Year Long-Term Incentive Plan,” the proxy stated. Footnoted.com reported that Weymouth will also receive a raise of nearly 16.5%, bringing her 2011 base salary to $625,000.
Footnoted.com reported that the Post’s stock declined 1.38% in 2010, trailing the S&P 500 by 10 percentage points.
Weymouth’s uncle Donald Graham, the Post’s chairman and CEO, again declined both a raise and a bonus, the Footnoted.com post reported.
The report also noted that the base salary for Weymouth’s mother, Lally Weymouth — who left
Newsweek
after the company sold the magazine and is now an editor-at-large at the
Washington Post
— is $300,000 per year. Donald Graham’s daughter, Laura O’Shaughnessy, will have a base salary of $150,000 in 2011 and received a $40,000 bonus for 2010. O’Shaughnessy is president and CEO of a Post subsidiary, Social Code LLC. (Source: Footnoted.com, March 24, 2011.)
-
943 reads