1:46 PM: Toplines of the contract Sound Transit is offering Dow Constantine to become its next CEO – pending a two-thirds-or-more board vote tomorrow afternoon – are now posted on the ST website, in this proposed board motion. The base salary is $450,000; the contract would start April 1 and run through December 31, 2026, “with two one-year renewal options at the Board’s discretion.” The motion also notes:
A market study will be completed at the end of 2025 to determine a base salary for 2026 that will be set, at a minimum, at the average of market comparable salaries, but not less than the current annual salary. The same process will be applied to determine base salary for 2027 if the Board, in their discretion, renews the agreement for the 2027 one-year term.
In addition to the annual market-rate base salary increase in 2026 and 2027, for each year, an annual 3% to 6%-Base Salary increase will be awarded based on Mr. Constantine’s annual performance rating.
Various amounts for incentives and expenses are laid out, too:
*”An Annual Contribution Performance Award of $30,000 may also be awarded on based upon the achievement of mutually agreed to goals”
*”Mr. Constantine will receive an annual taxable expense allowance of $24,000 to defray routine business expenses incurred performing his duties under the employment agreement”
*”Mr. Constantine will receive a one-time home office equipment stipend of $10,000 to facilitate the initial setup of the CEO’s technology and equipment needs and to further the performance of the CEO.”
The board motion also goes into details of health benefits, retirement-account contributions, and travel. It’s not the actual full contract, though; we’re requesting that. Meantime, Thursday’s meeting with the scheduled vote – which includes as usual a public-comment period – is set for 1:30-4 pm at the ST board room inside Union Station, or you can attend/comment online (the agenda document explains how).
5:23 PM: A Sound Transit spokesperson tells us we’ll have to file a public-records request to get the actual contract. … Meantime, looking around the ST archives, we found documents noting that former CEO Peter Rogoff was hired at $365,000 base salary in 2018; short-term former CEO Julie Timm‘s starting base salary in 2022 was $375,000.
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