The New York Times Co. trimmed CEO Janet Robinson's pay package last year as a prolonged revenue slump eroded the newspaper publisher's market value.
Robinson's compensation in 2010 totaled $4.48 million, an 8 percent drop from $4.86 million in the prior year, based on The Associated Press' analysis of data filed with regulators on Friday.
The decline stemmed from a drop in the value of restricted stock and stock options granted to Robinson in 2010. Combined, those awards were valued at nearly $1.1 million on the days they were granted, down 35 percent from what she received in the previous year. Robinson's salary of $1 million rose 4 percent year-over-year and her other cash compensation increased 3 percent, partly because she has orchestrated an austerity program that has lowered the Times Co.'s expenses and boosted its earnings.