Aetna CEO received $30.86M in 2006

Aetna CEO received $30.86M in 2006

	Published : Mon, 19 Mar 2007 16:46 By : Agencies Print this Story

NEW YORK (AP) - Ronald A. Williams, chairman, chief executive and president of Aetna Inc., received compensation last year valued by the company at $30.86 million, according to a proxy statement filed Monday.

Williams, who took over as chairman and chief executive of Aetna on Feb. 14, received a salary of $1.07 million, incentive compensation of $7.7 million and restricted stock the company valued at $22 million on the dates the awards were granted. He received perks worth $70,655 for items including legal fees related to his contract negotiation, personal use of corporate aircraft and vehicles, and contributions to an employer-sponsored retirement plan.

The restricted stock grants were valued at $50.21 per share, according to a statement filed with the Securities and Exchange Commission.

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 do not include changes in the present value of pension benefits.

Hartford, Conn.-based Aetna, which sells health insurance, reported last month that its fourth-quarter profit rose 4 percent, as a push to sell individual policies besides more traditional companywide plans helped grow medical enrollment and lift revenue from health care premiums.

The company's net income increased to $434.1 million, or 80 cents per share, from $416.3 million, or 70 cents per share during the same period in 2005. Revenue edged up 8 percent to $6.36 billion from $5.87 billion.

For the year, Aetna reported earnings of $1.7 billion, or $2.99 per share, compared with $1.57 billion, or $2.60 per share in 2005. Revenue advanced 12 percent to $25.14 billion from $22.49 billion

The company forecast fiscal 2007 adjusted earnings of $3.30 per share.

When the earnings results were announced, Williams said the company 'is very well positioned' to sustain long-term operating earnings growth of 15 percent, due mostly to its strategy for attracting new customers and improving its business with existing customers.

Aetna shares rose 38 cents to $43.57 in morning trading on the New York Stock Exchange.