February 24, 2014 / 7:24 PM / 4 years ago

Sprint CEO Hesse's compensation rises four-fold

(Reuters) - Sprint Corp (S.N) paid Chief Executive Daniel Hesse $49.1 million in 2013, a more than four-fold increase from 2012, largely due to a jump in stock and options.

Sprint Corp's CEO Dan Hesse speaks to guests and members of the media after a tour of Sprint's laboratory in Burlingame, California, October 30, 2013. REUTERS/Beck Diefenbach

Hesse's base salary remained unchanged at $1.20 million. His stock awards totaled $27.8 million, including the $1.9 million awarded in 2011 but vested in 2013, Sprint said in a filing with U.S. Securities and Exchange Commission on Monday. (r.reuters.com/dyf27v)

Hess’s total package was $11.2 million in 2012.

Softbank Corp (9984.T), a Japanese mobile network operator, took control of Sprint for $21.6 billion last July.

Softbank extended Hesse’s contract as Sprint Corp’s CEO until 2018.

Reporting by Rohit T. K. in Bangalore; Editing by Saumyadeb Chakrabarty

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