Sprint Nextel CEO receives $14.8M in pay

? Gary Forsee, chairman and chief executive officer of Sprint Nextel Corp., received compensation valued by the company at $14.8 million in a year when the wireless operator lost significant ground on its competitors and saw a big loss in valuable post-paid subscribers, according to a regulatory filing Monday.

Tim Donahue, who stepped down as chairman in December, received compensation valued at $19.7 million, according to the proxy filed with the Securities and Exchange Commission.

Forsee, who took over as CEO in 2003, received $1.44 million in salary and $50,600 in above-market earnings on deferred compensation. He rejected a short-term incentive payment of $414,120.

He also received $254,910 in other compensation, which included $39,801 for security at his homes and $192,530 for personal use of the corporate aircraft. Company policy requires Forsee to use corporate aircraft for all travel.

The company, based in Reston, Va., with operational headquarters in Overland Park, Kan., said it decided last year to stop providing such executive perks as country club dues and car services but increased Forsee’s $1.4 million salary by $50,000 to reflect the change.