International Speedway Corp. issues smaller bonuses to top two executives
International Speedway Corp. issued smaller bonuses to its two top executives in 2008 than it did in 2007.
According to its 2009 proxy statement filed Wednesday with the U.S. Securities and Exchange Commission, ISC Chairman Jim France's total compensation was $1.04 million in 2008 – $48,000 less than what he made in 2007 with his bonus about $28,000 less than a year ago. ISC President Lesa France Kennedy’s bonus was more than $25,000 less than a year ago, and her total compensation was $768,454, down from $814,159 in 2007.
Executive Vice President John Saunders and Senior Vice President Roger VanDerSnick did receive higher bonuses and overall compensation. Saunders’ total compensation was $639,450 in 2008 compared with $632,944 in 2007, while VanDerSnick made $507,345 in 2008 compared with $457,002 in 207.
As of March 9, the France Family Group owned 68.91 percent of the voting stock in the company. Jim France, brother of the late Bill France Jr., is listed as owning 46.23 percent of the voting stock, while Betty Jane France, Bill France Jr.’s widow, owns 20.57 percent. Lesa France Kennedy, Bill France Jr.’s daughter, owns 2.66 percent, and Brian France, Bill France Jr.’s son, owns 0.23 percent. All are members of the France Family Group, which also includes their children.
Last year, the France Family Group owned 66.26 percent of the voting stock.
According to documents in Kentucky Speedway’s antitrust lawsuit against NASCAR and ISC, Jim and Lesa France Kennedy co-own NASCAR, a privately held company.
At the annual meeting of ISC shareholders scheduled for April 14, five board members – France Kennedy, Larry Aiello Jr., J. Hyatt Brown, Ed Rensi and Thomas Staed – have been nominated to be re-elected to three-year terms.
