Les Moonves gets another signing bonus

10:24 PM, Oct 18, 2012   |    comments
Les Moonves. Credit: AP/file.
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NEW YORK (AP) - Two years after granting CEO Leslie Moonves a bundle of stock options as a bonus for signing a long-term contract, CBS Corp. is giving him another signing bonus after extending his contract through the middle of 2017.

After redoing his contract on Monday, the 63-year-old executive received another bonus package. The first installment was due Thursday, when he was to receive $7.5 million worth of stock options. In 2013, he is entitled to restricted stock units that will be valued at $14.5 million on the day they are issued.

The one-time stock grants come on top of an annual salary of $3.5 million and a target bonus of $12 million per year.

The details of the signing bonus were laid out in a securities filing on Thursday.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

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