New York Times Goofs, Overpays Its Execs

arthur sulzberger hands tbi

Whoops!

The New York Times Company (NYT) accidentally overpaid Janet Robinson and Arthur Sulzberger by 250,000 and 100,000 stock options each, according to an SEC filing.

Now those options are being voided.

However, it doesn’t sound like Robinson or Sulzberger will actually feel any pain:

In order to satisfy the original intent with respect to these individuals’ compensation, and after consulting with its outside compensation consultant, on September 17, 2009, the Compensation Committee of the Company’s Board of Directors recommended grants to Mr. Sulzberger, Jr. and Ms. Robinson of deferred payment stock appreciation rights equal in number to the Void Options (referred to as the “Replacement SARs”).

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