Allied Waste CEO receives $8.7M in 2006 |
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Wed, 11 Apr 2007 00:03
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NEW YORK (AP) - Allied Waste Industries Inc. Chairman and Chief Executive John J. Zillmer received compensation in 2006 the company valued at $8.7 million, according to the waste management company's annual proxy statement.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 and sometimes differ from the totals released by the companies.Zillmer, 51, received $869,125 in salary, $1.7 million in non-equity incentive plan compensation and $184,313 in other compensation, including personal use of company aircraft, an automobile allowance and club dues.He also received restricted stock units and stock options in 2006 worth $6 million on the days Allied Waste granted them to him.Of that, $1.4 million was a January award of restricted stock units as part of Allied Waste's annual grant for 2006. Another $2.1 million was a January award of stock options as part of the company's annual grant for 2006, and $2.5 million was for a December award of stock options awarded as part of its annual grant for 2007 compensation.Allied Waste said it based part of executives' compensations on performance metrics, including return on invested capital, free cash flow and growth in earnings before interest, taxes and other items.Shares slipped 23 cents to close at $12.53 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 This material may not be published, broadcast, rewritten, or redistributed.
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