The breakdown of cash that creditors are suing to be get back
Before Los Angeles Times chief executive David Hiller left the Tribune Company in 2008, he got a bonus. A few of them, actually: “$3,972,558 in a deferred bonus, $2,328,067 for his stock, $2,083,333 in phantom equity, a total of $3,050,523 in excise tax gross ups, and $3,960,000 in executive transition.”
This, according to a document, posted by the Chicago Reader on Friday, listing the 209 Tribune Company managers and former managers “who came into quite a bit of money when Sam Zell took the company private back in December of 2007.”
Hiller made off with $15.4 million, according to the document, though that’s quite a bit less than the $28.7 million Tribune Co. CEO Dennis FitzSimons got.
All of that cash is suddenly relevant, as creditors of the now-bankrupt Tribune Company have begun the process of suing the so-called “Trib 209” to get it back.
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