Mike Sneesby, the CEO fo Nine Entertainment, has just acquired shares in the company he runs.
A notice to ASX, shows he now has 46,689 shares at an average price of $2.783, a value of nearly $130,000.
The announcement says the shares were acquired under Nine's Short Term Incentive Plan.
Up until now, he didn't have a direct holding in the media group.
Although his wife is listed with 81,083 shares.
Sneesby can double his base pay of $1.4 million under the Short Term Incentive Plan, against a set of goals weighted 50% to the company's financial performance and 50% to individual objectives.
In the year to June, Sneesby was awarded 112.5% of his short term incentive, according to Nine's annual report.
Sneesby, the former CEO of Nine's successful streaming platform Stan, replaced Hugh Marks who announced in November last year he would be stepping down after five years running the media group.
Marks' final pay was $4,134,802, according to an "actual" calculation outlined in Nine's annual report. It was $2,161,263 the year before.
However, the statutory calculation of remuneration shows Marks with $7,933,616 for the year to June.
This included $2,856,656 in "termination benefits".
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.