Sprint (NYSE: S) Nextel’s CEO Dan Hesse received compensation in 2008 that an Associated Press analysis of Sprint’s proxy filing with the SEC on Monday valued at $14.2 million, even as subscribers continued to flee the struggling carrier. In 2008, the year Sprint posted a $2.8 billion loss and 4.6 million customers defected to other carriers, Hesse, who is 55, received:

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—A base salary of $1.2 million, plus a performance-based bonus of $2.7 million.

—Stock and options that were valued at the time they were awarded at $10.1 million, with $7.8 million in shares, and the rest in options. But the value of Hesse’s shares—have fallen 36 percent, while the options are basically worthless, since Sprint’s stock is trading below the exercise price of the options.

—Additional corporate perks valued at $287,228, including a $173,801 contribution to his 401(k); $91,462 for security; and $21,965 for other expenses that included use of the corporate jet.

A Sprint spokesperson told the WSJ.com that the carrier was seeing some areas of improvement under Hesse—including increased customer call resolution, $1 billion in cost cutting in the later half of 2009, and renegotiating credit agreements to give Sprint “breathing room” financially. Still, it seems that the carrier removed or reworked some of their own targets on which bonuses were calculated. One original goal set in early 2008 was to increase the number of customers at Nextel, Sprint’s troubled unit that they acquired in 2005. By the second quarter of 2008, boosting Nextel subscriber numbers was dropped as one of the bonus factors.