Wachovia CEO gets nearly $18.4M in 2006 |
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Sat, 10 Mar 2007 00:34
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CHARLOTTE, N.C. (AP) - Wachovia Chairman and Chief Executive Ken Thompson received compensation the company valued at nearly $18.4 million in 2006, according to a regulatory filing made Friday .Thompson, 56, received $1.09 million in salary, $5.15 million in non-equity incentive plan compensation, and more than $11.8 million in stock and option awards. He also received $216,178 in other compensation, including $20,911 for financial planning and tax preparation services, according to the Charlotte-based bank's filing with the Securities and Exchange Commission.His compensation also included $39,426 for personal use of company aircraft, which Wachovia Corp.'s board requires of Thompson for security reasons.Thompson exercised $833,140 in stock options in 2006.The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits.Shares in Wachovia, the nation's fourth-largest by assets, closed up 24 cents, or 0.43 percent, to $55.54 Friday on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Federal agency OKs Wachovia addition 