KR Releases 2005 Executive Compensation Figures

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By: E&P Staff

According to a Securities and Exchange Commission filing submitted by Knight Ridder on Friday afternoon, Chairman and CEO Tony Ridder, 65, collected $980,000 in salary and received a bonus of $281,304 in 2005. He holds restricted stock valued at $1,176,230.

Steven Rossi, 56, senior vice president, CFO, earned $602,923 in salary and $101,310 in bonus and holds restricted stock valued at $445,060.

Senior Vice President Hilary Schneider, 45, received a salary of $593,856 and a bonus of $101,310. She holds restricted stock valued at $445,060. Schneider also received a one-time relocation payment of $230,587, relating to costs and reimbursements associated with moving expenses.

Art Brisbane, 55, senior vice president, received a salary of $592,308 and a bonus of $101,310. He also holds restricted stock worth $445,060. Brisbane received a one-time relocation payment of $976,182 of which $400,000 was a relocation bonus, $216,399 was a related tax reimbursement, and $359,783 for actual moving expenses.

Senior Vice President Mary Jean Connors, 53, made $580,000 in salary and received a bonus of $97,933. She holds restricted stock valued at $445,060.

The filing also said that executive officers stand to receive a lump cash severance payment equal to three times the sum of salary and cash bonus for the last full calendar year preceding the severance. Executives are allowed to continue participating in the company?s group term life insurance and health plan for a period of three years and benefit from accelerated vesting of stock.

Par Ridder, the son of Tony and president and publisher of the St. Paul Pioneer Press, received compensation of $429,196. Peter Ridder, president and publisher of The Charlotte Observer and brother of Tony, received $540,465 in compensation.

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