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LYV » Topics » 2006 DIRECTOR COMPENSATION TABLE

This excerpt taken from the LYV 10-K filed Apr 30, 2009.

2008 Director Compensation Table

The following table shows compensation of the non-employee members of our board for the fiscal year ended December 31, 2008. Any board member who is also an employee of the company does not receive separate compensation for service on the board.

 

Name (1)

    Fees Earned or
Paid in Cash
($)		    Stock Awards
($) (2) (3)		    Stock Option Awards
($) (2) (3)		     Total
($)

William O.S. Ballard

    21,000    124,633    19,150     164,783

Michael Cohl

    —      —      —       —  

Ariel Emanuel

    38,000    69,086    11,827     118,913

Robert Ted Enloe, III

    54,000    66,621    29,195     149,816

Jeffrey T. Hinson

    59,000    67,751    21,238     147,989

James S. Kahan

    55,000    69,086    11,827     135,913

L. Lowry Mays

    36,000    45,972    21,238     103,210

Mark P. Mays

    —      72,986    (35,978 )   37,008

Randall T. Mays

    45,000    60,690    106,189     211,879

Connie McCombs McNab

    37,000    45,972    21,238     104,210

Michael Rapino

    —      —      —       —  

Mark Shapiro

    9,500    1,354    —       10,854

Timothy P. Sullivan

    —      97,337    (39,939 )   57,348

Harvey Weinstein

    36,000    66,621    29,195     131,816

 

(1) Messrs. M. Mays, Sullivan, Cohl and Ballard resigned from our board of directors in February 2008, February 2008, June 2008 and August 2008, respectively. Mr. Shapiro joined our board of directors in November 2008.
(2) The amounts set forth in these columns reflect shares of restricted stock and stock options, as applicable, granted under our Stock Incentive Plan. The amounts listed are equal to the compensation cost recognized during 2008 for financial statement purposes in accordance with FAS 123R, except that no assumptions for forfeitures were included. Additional information related to the calculation of the compensation cost is set forth in Note 15 of the Notes to Consolidated Financial Statements of our Annual Report on Form 10-K for the year ended December 31, 2008. Dividends, if any, are paid on shares of restricted stock at the same rate as paid on our common stock. The stock options and restricted stock awards vest in one, four or five equal annual installments beginning on the first anniversary of the grant. As of December 31, 2008, Messrs. Emanuel and Kahan each held 10,000 stock options and 15,164 unvested shares of restricted stock; Messrs. Enloe and Weinstein each held 20,000 stock options and 13,664 unvested shares of restricted stock; Mr. L. Mays and Ms. McNab each held 20,000 stock options and 11,664 unvested shares of restricted stock; Mr. Hinson held 20,000 stock options and 15,414 unvested shares of restricted stock; Mr. R. Mays held 100,000 stock options and 17,664 unvested shares of restricted stock and Mr. Shapiro held 6,205 unvested shares of restricted stock.
(3)

During 2008, Ms. McNab and Messrs. Emanuel, Enloe, Hinson, Kahan, L. Mays, R. Mays and Weinstein each received 7,664 shares of restricted stock, with each restricted stock award having an aggregate grant date fair value of $116,799. In addition, Mr. Shapiro received 6,205 shares of restricted stock with an aggregate grant date fair value of $22,462. Mr. Ballard’s awards were modified in connection with his resignation from our board of directors to accelerate the vesting of 10,000 stock options and

 

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10,000 shares of restricted stock, with the stock option modification and restricted stock modification having an aggregate incremental fair value of $19,150 and $124,633, respectively. Mr. M. Mays’ awards were modified in connection with his resignation from our board of directors to accelerate the vesting of 40,000 stock options and 15,000 shares of restricted stock, with the stock option modification and restricted stock modification having an aggregate incremental fair value of ($35,978) and $72,986, respectively. Finally, Mr. Sullivan’s awards were modified in connection with his resignation from our board of directors to accelerate the vesting of 16,000 stock options and 11,000 shares of restricted stock, with the stock option modification and restricted stock modification having an aggregate incremental fair value of ($39,939) and $97,287, respectively. No other director received any equity award during 2008. The grant date fair value of all stock option and restricted stock awards has been computed in accordance with FAS 123R.

This excerpt taken from the LYV DEF 14A filed Apr 4, 2007.

2006 DIRECTOR COMPENSATION TABLE

 

Name

   

Fees Earned or
Paid in Cash

($)

   

Stock Awards

($) (1), (2)

   

Stock Option Awards

($) (1), (2)

   

Total

($)

Henry G. Cisneros

    42,000    49,003    19,718    110,721

Michael Cohl (3)

    —      —      —      —  

Robert Ted Enloe, III (4)

    —      4,440    1,672    6,112

Jeffrey T. Hinson (5)

    50,000    49,003    19,718    118,721

L. Lowry Mays

    36,000    49,003    19,718    104,721

Mark P. Mays, Vice Chairman

    36,000    122,507    98,591    257,098

Randall T. Mays, Chairman

    36,000    122,507    98,591    257,098

Connie McCombs McNab

    37,000    49,003    19,718    105,721

John N. Simons, Jr. (5)

    47,000    49,003    19,718    115,721

Timothy P. Sullivan (5)

    42,000    49,003    19,718    110,721

Michael Rapino (3)

    —      —      —      —  

Harvey Weinstein (4)

    —      4,440    1,672    6,112
(1) The amounts set forth in these columns reflect shares of restricted stock and stock options, as applicable, granted during 2006 and 2005 under the Stock Incentive Plan. The amounts listed are equal to the compensation cost recognized during 2006 for financial statement purposes in accordance with Statement of Financial Accounting Standards No. 123R (“FAS 123R”), except no assumptions for forfeitures were included. Additional information related to the calculation of the compensation cost is set forth in Note M of the Notes to Consolidated and Combined Financial Statements of our 2006 Annual Report on Form 10-K. Dividends are paid on shares of restricted stock at the same rate as paid on our common stock. The stock options and restricted stock all vest in five equal annual installments beginning on the first anniversary of the grant. As of December 31, 2006, Messrs. Cisneros, Hinson, L. Mays, Simons and Sullivan and Ms. McNab each held 10,000 stock options and 8,000 unvested shares of restricted stock; Mr. M. Mays and Mr. R. Mays each held 50,000 stock options and 20,000 unvested shares of restricted stock; and Messrs. Enloe and Weinstein each held 10,000 stock options and 10,000 unvested shares of restricted stock. Mr. Cohl held no stock options or shares of restricted stock as of December 31, 2006.
(2) During 2006, Messrs. Enloe and Weinstein each received 10,000 stock options and 10,000 shares of restricted stock, with each stock option award and restricted stock award having an aggregate grant date fair value of $79,545 and $221,800, respectively, as computed in accordance with FAS 123R. No other director received any equity award during 2006.
(3) Only non-employee directors are eligible to receive compensation for their service as a director of Live Nation. Accordingly, Mr. Rapino, Live Nation’s President and Chief Executive Officer, and Mr. Cohl, Chief Executive Officer of Concert Productions International Inc. and its affiliated entities (in which Live Nation holds a majority interest), are not entitled to any director compensation. See the 2006 Summary Compensation Table for a discussion of Mr. Rapino’s 2006 compensation and “Certain Relationships and Transactions” for a discussion of Mr. Cohl’s 2006 compensation.
(4) Messrs. Enloe and Weinstein joined the Board of Directors in December 2006, and therefore, did not receive a cash retainer for the 2006 fiscal year.
(5) In February 2007, Messrs. Hinson, Simons and Sullivan, being all of the members of the Audit Committee, each received 5,000 shares of restricted stock in recognition of their efforts during 2006 in guiding Live Nation through its first fiscal year as a stand-alone public company. Live Nation did not incur any compensation expense under FAS 123R with respect to these awards in 2006, and therefore, the awards are not reflected in the above table. The closing sale price of Live Nation’s common stock on the date these awards were granted was $24.95, and they vest in four equal annual installments beginning on the first anniversary of the grant.

 

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Table of Contents

EXCERPTS ON THIS PAGE:

10-K
Apr 30, 2009
DEF 14A
Apr 4, 2007

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