Compensation Issues

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Pay Package for HMA CEO Gary Newsome Climbs 17% to $8.3M

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In fiscal year 2012, Gary Newsome, president and CEO of Naples, Fla.-based Health Management Associates, recorded $8.30 million in total compensation — a 16.8 percent increase from last year's pay package, according to a proxy disclosure filed with the U.S. Securities and Exchange Commission.

In 2011, Mr. Newsome earned $7.11 million in total compensation, and in 2010, he made $6.38 million. This past year, Mr. Newsome's salary increased marginally to $1 million, while his stock awards rose to $3.33 million. He also received more than $2.89 million in short- and long-term bonuses, which Health Management bases on EBITDA and other profitability goals. Of Mr. Newsome's $8.30 million pay, roughly $1 million was represented in the form of deferred and retirement earnings, while $130,902 was "other compensation," including $98,920 for personal use of Health Management's aircraft.

Health Management CFO Kelly Curry remained the for-profit hospital chain's second-highest earner. In 2012, he made $3.47 million, up slightly from $3.41 million in 2011. His base salary remained at $675,000, while his stock awards also held steady at $1.13 million. Mr. Curry's bonuses fell slightly to $1.29 million, but his deferred compensation increased 52 percent to $345,192.

Robert Farnham, Health Management's senior vice president of finance, and Kerry Gillespie, executive vice president of operations finance, were the next-highest paid. In 2012, Mr. Farnham received $1.85 million, while Mr. Gillespie made $1.58 million.

More Articles on Hospital Executive Compensation:

CHS CEO Wayne Smith's 2012 Compensation Declines to $17.3M
Universal Health Services Doles Out $11.7M to CEO Alan Miller
Compensation for Capella CEO Dan Slipkovich Rises to $938k

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