Wynn Resorts CEO Steve Wynn paid $8.39M in 2009

By Amanda Finnegan

Published Monday, April 5, 2010 | 12:28 p.m.

Updated Monday, April 5, 2010 | 3:36 p.m.

Steve Wynn's compensation as chief executive of Wynn Resorts changed little in 2009 as the casino operator struggled in Las Vegas, according to a recent filing with the Securities and Exchange Commission.

Wynn's compensation totaled $8.39 million in 2009, compared with $8.45 million in 2008. Those numbers compare to the $11.2 million Wynn made in 2007, according to the filing.

The package included $2.95 million in salary, a $4.06 million cash bonus and $1.37 million in perks, mostly for personal use of a company aircraft. Wynn received no stock or options.

The Sun calculates total compensation based on an executive’s base salary, bonus, non-equity compensation, change in pension, all other compensation, options exercised and stocks vested. The Sun does not include stock and option awards until the stocks vest or options are exercised.

As of March 1, Wynn held more than 11 million shares in Wynn Resorts, the filing indicated. Last year, Steve Wynn held 24 million shares with his then-wife, Elaine Wynn, but the couple sold some shares and split the rest of their stake as they divorced. The divorce was final Jan. 5.

Chief Financial Officer Matt Maddox took home $8.9 million in 2009, according to Sun calculations, including a base salary of $780,000 and a bonus of $5.65 million, the highest bonus of executives listed in the filing. Wynn Resorts reported Maddox’s total compensation and cost to the company was $15 million in 2009, compared to $17.7 million in 2008.

Chief Operating Officer Marc Schorr received $5 million in compensation, according to Sun calculations. Schorr received a base salary of $1.8 million and a bonus of $2 million. Wynn Resorts reported his total compensation was $18.9 million in 2009, compared to $26 million in 2008.

Linda Chen, vice president of Wynn International marketing, brought home $2.8 million in 2009, while General Counsel and Secretary Kim Sinatra received $4.52 million, according to Sun calculations. Wynn Resorts reported Chen’s total compensation as $11.2 million and Sinatra’s as $10.5 million.

The Associated Press contributed to this report.