A compensation package for the chief executive of Dish Network Corp. dipped 18 percent in 2007 because he received fewer reimbursements for such items as use of company aircraft, a regulatory filing said Friday.
Charlie Ergen, who also founded the No. 2 satellite television provider, received a package valued at $1.15 million, which included $592,308 in salary and $554,232 in other compensation for tax preparation and personal use of the corporate aircraft.
Ergen declined to accept any money he would have been entitled to under a non-equity compensation program and did not receive a bonus, the Securities and Exchange filing stated.
In 2006, Ergen received $1.41 million in compensation, which included $550,000 in salary and $858,171 in other compensation.
Dish Network was known as EchoStar Communications Corp. until Jan. 1 when it spun off its equipment business into EchoStar Corp. The Dish Network retained the pay satellite television business. Of late, it has been faced with competing against DirecTV amid a challenging sluggish economy and difficult housing market.
The company had 13.78 million subscribers as of Dec. 31. DirecTV, in comparison, had 16.8 million subscribers.
The AP's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.
Ergen is the largest shareholder in Dish Network with 49.9 percent of the Class A stock, while his wife, Cantey, owned 49.8 percent. Charlie Ergen also is CEO of EchoStar.
The companies will hold an annual meeting in June.
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