Getty CEO's Move Will Cost $1 Million

Getty Images says moving CEO Jonathan Klein to New York City from Seattle will cost $1 million. The company will be paying for Klein's housing, moving expenses, and related costs and income taxes. (As we reported last month on PDNOnline, Klein will be running the company from New York beginning in September and plans to stay nine months.)

Getty has also given Klein a raise starting this month, increasing his base salary from $950,000 to $1 million, to make up for the loss of unspecified perks. And the board's compensation committee has granted Klein restricted stock valued at $3.5 million, which will become vested if the company meets certain financial objectives. This is all detailed in an SEC filing posted today.

I haven't checked Craigslist lately, but I hear for $100,000 a month you can get a pretty decent 1-bedroom in Sunset Park.

Comments

[Mateo Muñoz]

Hello,

I think there is a small typo on the publication. It says:

"I haven't checked Craigslist lately, but I hear for $100,000 a month you can get a pretty decent 1-bedroom in Sunset Park."

I believe 100,000. is too much, shouldn't be 10,000dlls.

Mateo

[Joe M]

That is sick and just wasteful.