Tuesday, April 15, 2008 | 9:06 a.m.
Excluding the value of stock options and awards, MGM Mirage Chief Executive Terry Lanni earned $9.6 million in compensation last year. That figure includes a salary of $2 million and incentive-based compensation of $6.4 million, according to the company's latest proxy.
That would have been less than last year if not for the $12.6 million Lanni received from the value of stock options exercised last year, boosting his total compensation to more than $22 million.
The proxy revealed that executives, directors and an affiliate company bought a total of nine condominium units at CityCenter for $28.8 million. Lanni bought two units, along with two of his adult children.
Also revealed in the proxy is the latest breakdown of ownership in MGM Mirage, one of a dwindling number of public gaming companies.
With Dubai World's recently acquired 9.3 percent stake in MGM Mirage, less than 25 percent of the company's shares are publicly traded.