Hilton Hotels chief receives slight raise
Thursday, April 10, 2003 | 11:11 a.m.
SUN STAFF AND WIRE REPORTS
BEVERLY HILLS, Calif. -- Hilton Hotels Corp., the third-largest U.S. hotel company, paid Chief Executive Stephen Bollenbach $2.22 million in salary and bonus last year as the company's shares rose 16 percent.
Bollenbach is also chairman of the board of Park Place Entertainment Corp., a casino resort operator in Las Vegas that was spun off from Hilton in 1998.
Bollenbach, 60, received a salary of $1 million, unchanged from 2001, and bonus of $1 million, up from $900,000, the Beverly Hills, Calif.-based company said in a Securities and Exchange Commission filing.
Hilton said Bollenbach's bonus was based on the company's earnings per share, individual performance and efforts to improve the company's diversity. Bollenbach also received compensation of about $218,000 for the purchase of a company car, use of company aircraft and contributions to a retirement plan, the regulatory filing said.
Bollenbach deferred his bonus and will receive it when the company is no longer subject to federal income tax deduction limits imposed by the Internal Revenue code, Hilton said. He also deferred his 2000 and 2001 bonuses.
Bollenbach didn't receive options to purchase shares. He received no options in 2001.
Under an agreement with Park Place, Bollenbach is entitled to receive a base salary of $100,000 per year for his services as board chairman. The agreement, which extends through July 1, 2005, doesn't allow Bollenbach to receive a bonus other than an annual vacation and reimbursement of certain expenses related to his services as chairman.
archive
- Most Read
- Discussed
- Most E-mailed
- Live Blog: Pacquiao wins by TKO in round twelve
- Floyd Mayweather Jr. and Manny Pacquiao: The only fight fans want to see
- Bruised and battered, Cotto says he will fight again
- Boulder City struggles with shocking allegations
- Construction goes bust, equipment goes on auction block
- Temperatures plunge in Las Vegas
- Sanford won’t return as UNLV coach in 2010
- Live game blog: Rebels open season with 91-52 victory against Pittsburg State
- Thunderbirds wow crowd at Nellis AFB air show
- Reid under microscope as lawmakers debate abortion
Blogs
Now and Then
Saints finally going somewhere fast
Elsewhere
Pacquiao-Mayweather at Yankee Stadium in May? (2 Comments)
The Coin Bucket
Planet Hollywood offers $60 rooms -- 10 rooms at a time (5 Comments)
Elsewhere
Nogueira injured, Evans v. Silva to headline 108
Politics: The Early Line
Lawmakers on standby to get health care bill
Robin Leach's Las Vegas Celebrity Watch
Is Donny Osmond’s wife jealous? Is Julianne Hough returning?
Elsewhere
Deutsche Bank drowning in Vegas on Cosmopolitan (19 Comments)
Calendar »
- 16 Mon
- 17 Tue
- 18 Wed
- 19 Thu
- 20 Fri
-
Lily Tomlin at the Hollywood Theatre
Hollywood Theatre at MGM Grand
-
The Automatic Tour at The Square Apple
The Square Apple
-
Football specials at Diablo's
Diablos Cantina
-
Rhumbar presents Pink Sugar Mondays
The Mirage Hotel and Casino
The Sun
Locally owned and independent for more than 50 years.
Technorati






