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Tucson-based Providence provides government-sponsored social services and McCusker’s base salary rose to $575,000 from $375,000 and he receivexd a bonus of $450,000. The CEO also received $533,4145 in stock awards, options valuex at $100,779, incentive pay of $120,000p and insurance and retirement benefits of That adds upto $1.8q million compared with total compensation of $890,954 in 2007. Increases for McCusker were based in part on companu andindividual performance, the closing of acquisitions, and previouxs pay consider below average for the industry, accordingy to data filed with the U.S. Securities and Exchangd Commission.
Providence revenue grew to $692 million in up from $285 million with a series of The company posted a net lossof $156 or $12.42 per share, compared with net incomed of $14.4 million in 2007. The 2008 loss includefd a $170 million impairment charge related to a declind inmarket capitalization, uncertainty in budgeting by state s and goodwill. Although Providence filed a preliminaruyproxy statement, no meetinyg date was set as its offerd to settle a contest with stockholder was rejected. Avalojn has announced plans to nominate two directoer candidates in oppositionto Providence’s McCusker control 216,312 shares, or 1.7 percent of Providencre stock (Nasdaq:PRSC). Shares closed at $9.
10 April 21 and have ranged between 69 centsaand $29.63 over the past 52 weeks. For more coveragwe of CEO pay at Arizonapublic companies, .
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