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November 14, 2009

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Marlon’s pay dropped in ‘99

Tuesday, April 11, 2000 | 11 a.m.

Sierra Health Services Inc. of Las Vegas paid Chairman and Chief Executive Anthony Marlon $982,000 in compensation in 1999, a 23 percent cut from his 1998 pay.

Marlon's base salary of $654,000 was essentially unchanged from 1998, but Marlon's bonus of $328,000 was just half its 1998 level. Marlon was also awarded 150,000 stock options.

The options, set to expire in 2005, would be worth $1.2 million, should Sierra's stock appreciate at 10 percent a year over the five-year period.

In its proxy statement, filed with the Securities and Exchange Commission, the company said its Executive Committee "determined not to increase the chief executive's salary from the 1999 level." The highest merit raise awarded to Sierra's top executives was 3 percent, the proxy statement said, and some executives received no pay increases.

Sierra's stock lost two-thirds of its value in 1999, the proxy statement said.

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