Bruton Smith owns 69% of SMI

Bruton Smith smiling all the way to the bank

Speedway Motorsports Inc. Chairman Bruton Smith owns 68.8 percent of voting stock in the track-operating company, according to a report filed Friday with the Securities and Exchange Commission.

Smith’s shares include those in his Sonic Financial Corporation, which owns 56.2 percent of the stock. About 17 percent of Smith’s shares are pledged as collateral for certain loans to Sonic Automotive, which the 83-year-old Smith also owns.

The document also showed that Bruton Smith’s compensation package increased from $1.7 million to $1.9 million while SMI President Marcus Smith, whose first full year as president was 2009, saw his compensation package increase from $1.456 million to $1.705 million. The compensation package includes salary, bonus, incentives, perks, above-market returns on pay set aside for later and the value of stock options and restricted stock granted during the year.

The annual meeting for SMI is scheduled for April 20. Bruton Smith and former Ford executive Robert Rewey are up for re-election to the board and are expected to be re-elected.

SMI owns and operates eight NASCAR tracks: Atlanta, Bristol, Charlotte, Infineon, Kentucky, Las Vegas, New Hampshire and Texas. The tracks, with the exception of Kentucky, host 12 of this year's 36 NASCAR Sprint Cup Series points races. SceneDaily.com