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The Association of U S West Retirees
 

 

 

CEO COMPENSATION SCORECARD
All Eyes on Perks, Pay, Deferred Comp
By Annelena Lobb and Matt Phillips
The Wall Street Journal
Friday, April 27, 2007

SHAREHOLDERS ARE RESTLESS
about executive compensation, and high pay amid middling performance, have led to CEO ousters and curtailed perks.  Now, investors have more to look at:  fiscal 2006 proxies.  Moreover, starting with this year's proxies, the SEC has changed how companies report pay.  For companies whose fiscal year ended after Dec. 15, 2006, the SEC now mandates a table that includes salary, bonus, the accounting cost of stock and stock-option awards, incentive-plan payments, change in pension value and deferred-compensation earnings, and all other compensation -- typically perquisites.  It also includes, for the first time, a "total compensation" column, which attempts to make pay across companies more comparable. 

NOTE:  Because it follows the SEC total, this chart's "total" number states what the CEO cost the company in a year, rather than what the CEO actually received. 

--- Compiled by Annelena Lobb and Matt Phillips
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This is only one of dozens of CEO's listed.  Use the URL below to view the entire list.  (PK)



03/29/2007 Notebaert, Richard
Chairman and CEO, Qwest - Telecom

Other/Perks *
$757,913

Total Compensation **
$16.49 million

Aside from a base salary of $1.1 million, Mr. Notebaert's package included stock and option awards -- granted in 2006 and previous years -- that were valued at cost of $8.28 million.  It also included $4.14 million in non-equity incentive plan pay, $2.21 million in pension and nonqualified deferred compensation earnings and "all other" compensation of $757,913. 

The "other" category included $331,873 representing corporate aircraft usage, $197,318 reflecting tax reimbursements and $75,000 in cash in place of other perks commonly paid to executives. 

The "other" compensation column also included $135,236 in perks such as financial and tax consulting services valued at $62,202 and $55,921 for a personal assistant and related office expenses, a business club membership, personal ground transportation and spousal attendance at company-sponsored events.

The present value of his pension benefits -- including his nonqualified pension plan -- stood at $10.09 million as of Dec. 31.  (03/30/2007)
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*  The column labeled as "Other/Perks" reflects the category in SEC filings designated as "all other compensation," which typically includes perquisites.  Under new filing rules, the "total compensation" number comprises salary, bonus, stock awards, option awards, non-equity inventive plan compensation, change in pension value and non-qualified deferred compensation earnings as well as "all other compensation."  For companies not required to file under the new rules, the "Other/Perks" figure reflects the category designated as "other annual compensation."

**  Included in the TOTAL COMPENSATION figure is the value given to stock and option awards.  This value is their compensation cost to the company, not the value of what the executive actually received. 

Write to the Online Journal's editors at
newseditors@wsj.com.

http://online.wsj.com/public/resources/documents/info-payPerks07-sort.html