Sprint Nextel Corp. (NYSE:S) boosted a target bonus for Chief Executive Officer Dan Hesse by 18 percent and dropped as an explicit component of measuring management success the Sprint customers on partner Clearwire Corp.’s network.
Sprint, the third-largest U.S. wireless provider, increased Hesse’s so-called short-term incentive bonus by $720,000 from last year to as much as $4.8 million for 2011, according to a filing today. The carrier kept Chief Financial Officer Bob Brust’s potential bonus at $2.6 million.
In this year’s first six months, Sprint will weigh executives’ eligibility for bonuses based in part upon a measure of operating income, contract subscriber turnover and service revenue. The board may alter the criteria for the second half.
In a change from last year, the carrier will assess the number of contract and non-contract, or prepaid, subscriber additions, according to the filing.
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The writing is on the wall for Clearwire...
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