From Charlotte Observer
CHARLOTTE, NC — Speedway Motorsports CEO Bruton Smith, who makes regular appearances on the Forbes magazine list of billionaires, now has another $1 million to his name.
Smith earned a $1 million cash bonus for helping Speedway Motorsports Inc. exceed earnings expectations. Smith is also CEO of Fortune 500 auto dealership chain Sonic Automotive Corp.
Speedway Motorsports, operator of Lowe’s Motor Speedway and five other racetracks, disclosed bonuses to Smith and three other executives in a Securities and Exchange Commission filing this month.
Speedway Motorsports President H.A. “Humpy” Wheeler earned $550,000. Vice President and CFO William Brooks earned $400,000. Executive Vice President Marcus Smith, Bruton Smith’s son, will earn a $532,000 bonus if the company meets year-end sales goals.
For the nine months ended Sept. 30, the company earned $60.1 million, compared with $47.5 million in the same period last year.
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