In fiscal year 2012, SunLink Health Systems Chairman, President and CEO Robert Thornton Jr. recorded total compensation of $732,647 — more than double what he earned in 2011, according to documents filed with the U.S. Securities and Exchange Commission.
In 2011, Mr. Thornton made $362,742. The major spike in compensation was due to $209,000 in stock option awards. SunLink's stock crashed after the economic collapse of 2008 and has struggled to recover since. Shares are currently trading around $1.02 and have fluctuated between $1.64 and $0.90 all year. Mr. Thornton's base salary in 2012 was $359,700, a 9 percent increase from 2011, and he also received a bonus of $57,806.
Ron Turner, SunLink's COO and chief development officer, was the next highest-paid executive, earning $394,917 in 2012. Mr. Turner's base salary increased 65 percent to $259,560. He received a bonus of $11,526 and stock option awards totaling $83,600.
SunLink CFO Mark Stockslager's total compensation increased 40.5 percent year-over-year, from $192,879 in 2011 to $271,013 in 2012. Mr. Stockslager's base salary was $182,585, and he received a bonus of $20,354. His stock option awards totaled $41,800.
SunLink ended FY 2012 on a positive note, recording $5.11 million in profit in the fourth quarter and $1.08 million in profit on the year. In 2011, SunLink lost $16.1 million, but the for-profit hospital has sold several assets — including Memorial Hospital of Adel (Ga.) and Southern Missouri Healthcare in Dexter — to repay debt and invest in its remaining hospitals.
In 2011, Mr. Thornton made $362,742. The major spike in compensation was due to $209,000 in stock option awards. SunLink's stock crashed after the economic collapse of 2008 and has struggled to recover since. Shares are currently trading around $1.02 and have fluctuated between $1.64 and $0.90 all year. Mr. Thornton's base salary in 2012 was $359,700, a 9 percent increase from 2011, and he also received a bonus of $57,806.
Ron Turner, SunLink's COO and chief development officer, was the next highest-paid executive, earning $394,917 in 2012. Mr. Turner's base salary increased 65 percent to $259,560. He received a bonus of $11,526 and stock option awards totaling $83,600.
SunLink CFO Mark Stockslager's total compensation increased 40.5 percent year-over-year, from $192,879 in 2011 to $271,013 in 2012. Mr. Stockslager's base salary was $182,585, and he received a bonus of $20,354. His stock option awards totaled $41,800.
SunLink ended FY 2012 on a positive note, recording $5.11 million in profit in the fourth quarter and $1.08 million in profit on the year. In 2011, SunLink lost $16.1 million, but the for-profit hospital has sold several assets — including Memorial Hospital of Adel (Ga.) and Southern Missouri Healthcare in Dexter — to repay debt and invest in its remaining hospitals.
More Articles on Hospital Executive Compensation:
Detroit Medical Center CEO Mike Duggan Takes Salary Cut to Explore Mayoral Run
Local Editorial: Executive Pay Measure at El Camino Hospital Should Be Buried
Compensation for Vanguard CEO Charles Martin Jr. Doubles to $7.9M in 2012