Paul J. Bascobert was the CEO of Gannett Co., Inc., stepping into the role in 2019. He brought a wealth of experience in the media industry, having previously led companies like XO Group Inc. and Bloomberg LP. His educational background...

Paul J. Bascobert was the CEO of Gannett Co., Inc., stepping into the role in 2019. He brought a wealth of experience in the media industry, having previously led companies like XO Group Inc. and Bloomberg LP. His educational background includes a Bachelor's degree from the University of California, Berkeley, and an MBA from The Wharton School, which complements his technical beginnings as an engineer at GM and Whirlpool. Bascobert's tenure at Gannett was marked by a focus on performance-based strategies aiming to enhance shareholder value, aligning executive pay with company success. He garnered a total compensation of about $4.1 million in 2020, largely due to a substantial severance package after his departure during the COVID-19 pandemic. His equity awards and stock holdings fluctuated significantly, with peak trades approaching $3 million monthly in early 2021. Even amid challenges, he navigated the changing tides of the media landscape and left his mark during his short but impactful stay at Gannett.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Gannett CEOs

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Paul J. Bascobert

Ex-CEO of Gannett

Education

Bachelor's degree from the University of California, Berkeley

Field of Expertise

Media & Entertainment - Media

Sector of Economy

Communication Services

Born

January 1, 1970 - 55 years ago

CEO of Gannett for

1 year 0 months (Jun 2019 - Jun 2020)

Previous Experience

Chief Executive Officer of Gannett Media Corp.

Rivals

Competitors/colleagues of Paul J. Bascobert

Holdings

See how much did Paul J. Bascobert make over time.

Throughout his career, Paul J. Bascobert held significant stock positions, especially during his time at Gannett. His trading activity saw considerable fluctuations, peaking in early 2021 with monthly trades nearing $3 million. For instance, in January 2021, he executed trades...

Throughout his career, Paul J. Bascobert held significant stock positions, especially during his time at Gannett. His trading activity saw considerable fluctuations, peaking in early 2021 with monthly trades nearing $3 million. For instance, in January 2021, he executed trades valued at approximately $1.81 million, reflecting confidence in Gannett's market performance. This was the peak of a trading trend that started in 2020, showcasing a strategic approach to capitalizing on stock movements and the timing of purchases and sales. His holdings showcased a diverse range of transactions that spiked in value during late 2020 to early 2021, indicating a keen understanding of market rhythms, particularly in times of recovery post-COVID. However, his wealth primarily resided in these stock holdings, illustrating the significant risk that executives navigate in their financial strategies, especially in volatile markets.

Mar 17, 2025

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shares

GCI @ $3.07

Insider Trading

See recent insider trades of Paul J. Bascobert.

GCI

230,736 shares

GCI

Apr 17, 2020

Received

Compensation History

See how much did Paul J. Bascobert make over time.

In 2020, Paul J. Bascobert's total compensation at Gannett reached approximately $4.1 million. This figure included a base salary of $225,380 and multiple bonuses tailored to performance metrics and COVID-19 adjustments. Notably, a significant part of his compensation stemmed from a guaranteed severance payment of $2.9 million, triggered by his unexpected departure amid the pandemic. His strategy emphasized a performance-driven pay structure, aiming to keep executive compensation aligned with the company's long-term financial goals. The nature of this compensation reflects the pressures CEO's face to deliver results, especially during uncertain times like a global crisis. Despite a relatively short tenure, Bascobert's financial arrangement illustrates the high stakes and complexities of leading a major media organization today.

Year

2020

Total Compensation

$3.79M

Salary

$225.38K

Board Justification

The compensation philosophy of the company for the CEO in 2020 is designed to attract and retain executives with the requisite skills and experience to help achieve business objectives and improve long-term stockholder value. The program is focused on performance-based compensation to align with stockholder interests.

Bonus

$610.02K

Board Justification

Mr. Bascobert was entitled to a guaranteed pro-rated cash bonus for fiscal year 2020 pursuant to the CIC Severance Plan equal to the average bonus earned with respect to the three fiscal years immediately prior to the fiscal year of his date of termination. The guaranteed pro-rated cash bonus earned by Mr. Bascobert in 2020 was $336,749. Additionally, he received a discretionary cash bonus of $136,635 related to the previous impact of COVID-19 salary reductions.

Other

$2.96M

Board Justification

This amount reflects Mr. Bascobert’s severance payment pursuant to the CIC Severance Plan in the amount of $2,900,000; $32,107 for COBRA expenses; and contributions by the Company to Mr. Bascobert including: (i) Company matching contributions to his Gannett 401(k) Plan in the amount of $14,250; (ii) Gannett Foundation grants to eligible charities recommended by Mr. Bascobert in the amount of $10,000; (iii) premiums paid for travel and accident insurance; and (iv) premiums paid for LifeLock identity protection.

Restricted Stock

$0.00(0 restricted stock)

Board Justification

Mr. Bascobert was awarded long-term incentive compensation with respect to fiscal year 2020. In April 2020, the Compensation Committee approved a long-term incentive compensation award of 230,736 shares of restricted stock and 282,010 performance stock units. A pro-rata portion of unvested restricted stock held by Mr. Bascobert became fully vested upon his termination from the Company in June 2020.

Performance Metrics

The performance metrics that determine the compensation in 2020 include the company's financial performance and individual performance metrics.

Other Gannett CEOs

Here are other CEOs of Gannett

Barbara W. Wall

Ex-CEO of Gannett

May 2019 - June 2019

Vinayak R. Hegde

CEO of Gannett

February 2021 - Present