Sprint CEO Hesse's compensation rises four-fold

Mon Feb 24, 2014 2:18pm EST

Feb 24 (Reuters) - Sprint Corp paid Chief Executive Daniel Hesse $49.1 million in 2013, a more than four-fold increase from 2012, largely due to a jump in stock and options.

Hesse's base salary remained unchanged at $1.20 million. His stock awards totaled $27.8 million, including the $1.9 million awarded in 2011 but vested in 2013, Sprint said in a filing with U.S. Securities and Exchange Commission on Monday. ()

Hess's total package was $11.2 million in 2012.

Softbank Corp, a Japanese mobile network operator, took control of Sprint for $21.6 billion last July.

Softbank extended Hesse's contract as Sprint Corp's CEO until 2018.