MGM Resorts CEO Murren takes US$4m pay cut

LAS VEGAS MGM Resorts International CEO Jim Murren made about 29% less last year than in 2009, mainly from a substantial decline in compensation from stock options.

Murren’s 2010 total compensation package of US$9.78 million, which MGM Resorts disclosed in a regulatory filing Monday, was about US$4 million less than the US$13.75 million he made in 2009, according to an Associated Press analysis.

MGM Resorts paid Murren a US$2 million base salary, plus a US$750,000 bonus, a US$4.3 million performance-based cash bonus, US$585,000 in perks and stock options worth US$1.73 million when they were granted.

Murren’s stock options declined 76% from US$7.09 million in 2009. However, the bonuses were both significantly higher than he was given the prior year.