AUSWR
The Association of U S West Retirees
 

 

 

Qwest Communications International CEO Got $3.15 Million Bonus For 2005
Dow Jones
Friday, March 31, 2006

WASHINGTON - (Dow Jones) - Qwest Communications International Inc. said Thursday that Chairman and Chief Executive Richard C. Notebaert got a $3.15 million bonus for 2005, up from his 2004 bonus of $2.97 million.

The CEO also received a $1.1 million salary for 2005, unchanged from his salary the year before, according to Qwest's proxy, filed with the Securiites and Exchange Commission.

Additionally, Qwest granted Notebaert 1 million restricted shares for 2005 versus none for 2004.  All 1 million shares will vest on Dec. 31 this year if Notebaert is still employed with Qwest by then, the company said.

Qwest also granted Notebaert options for 2 million shares, compared with options for 1.93 million shares for the year before.

Notebaert also received $1.1 million in other compensation.  That number accounts for $462,498 in costs for the CEO's personal use of company aircraft and $437,392 in gross-ups, or tax reimbursements, among other items, according to the proxy.

By Antonie Boessenkool, Dow Jones Newswires; 202-862-7139; antonie.boessenkool@dowjones.com

http://money.aol.com/news/articles?id=n20060330192309990021