the 10K is out, after the close:
The Sprague family received >$900,000 in direct compensation (excluding options) from shareholders in 2006, not including option grants or other benefits.
In March 2003, Mr. Peter Sprague, who is the former Chairman of Wave, was appointed Chairman and Chief Executive Officer of Wavexpress. Mr. Sprague was paid $129,000 for each of the years ended December 31, 2006, 2005 and 2004, respectively in salary as an officer of Wavexpress. Mr. Peter Sprague is the father of Wave’s President and Chief Executive Officer, Steven Sprague.
On August 1, 1997, Michael Sprague became an employee of Wave and was paid a salary of $150,000, $150,000 and $150,000 for the years ended December 31, 2006, 2005 and 2004, respectively. In addition, lease payments were made to Michael Sprague in the amount of $48,750 for the year ended December 31, 2006. These payments were for property occupied by Wavexpress and owned by Michael Sprague. This lease agreement was in effect for the period of April 15, 2006 through October 31, 2006. This lease agreement has since been terminated. Michael Sprague is the brother of Steven Sprague and the son of Wave’s former Chairman, Peter Sprague.
Long-Term
Compensation
Awards
Number of
Shares
Annual Compensation
Underlying
Name and Principal Position
Year
Salary($)
Bonus($)
Options(#)
Steven Sprague(1)
2005
250,000
231,250
250,000
President and Chief Executive Officer
2004
250,000
168,750
262,500
2003
250,000
200,000
225,000
Gerard T. Feeney(2)
2005
185,000
150,000
150,000
Senior Vice President, Chief Financial Officer and Secretary
2004
185,000
35,000
162,750
2003
185,000
281,399
135,000
