General Dynamics CEO gets $3.2M bonus |
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Sat, 10 Mar 2007 00:26
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FALLS CHURCH, Va. (AP) - Defense contractor General Dynamics Corp.'s board has agreed to pay its chief executive a $3.2 million bonus for 2006, according to a regulatory filing Friday, as the company continues to benefit from strong defense spending.The bonus for Nicholas Chabraja is an increase over the $3 million bonus General Dynamics paid him in 2005, a year in which Chabraja received as much as $26.8 million in total pay that included salary and stock based compensation. General Dynamics has not yet filed its proxy statement that will detail Chabraja's total 2006 pay.Bonuses for other top General Dynamics officers range from $450,000 to $725,000, according to the filing with the Securities and Exchange Commission.Chabraja has been CEO since 1997 of the company that makes tanks, submarines, ships and executive jets. Last year, General Dynamics earned $1.86 billion on revenue of $24.1 billion.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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General Dynamics awards CEO $3.2M bonus 