Alltel CEO gets $10.8M in 2006 |
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Tue, 17 Apr 2007 02:06
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LITTLE ROCK, Ark. (AP) - Alltel Corp. President and Chief Executive Scott T. Ford received compensation in 2006 that the company valued at $10.8 million, according to an analysis of a regulatory filing Monday.Ford received a $971,154 base salary, $4.4 million in performance incentive pay, $71,343 in above-market earnings on deferred compensation, and $1.36 million in perquisites and other compensation, the Little Rock-based wireless company said in a proxy statement filed with the Securities and Exchange Commission.He also received stock and option awards that had an estimated value of $3.98 million on the day they were granted.The perquisites and other compensation included $846,669 in restricted shares of Windstream Corp., which was created when Alltel spun off its traditional phone business and merged it with Valor Communications Group Inc. in a $4.9 billion deal. It also included $145,999 in personal use of company-owned aircraft.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 and options awards granted during the year. The calculations don't include changes in the present value of pension benefits and can differ from the company's total.For 2006, Alltel's profit was $1.13 billion, or $2.93 per share, compared with $1.33 billion, or $3.87 per share, the previous ago. Revenue for the year was $7.88 billion, up from $6.57 billion in 2005.Alltel's annual shareholders meeting will be held May 15 at Alltel Arena in North Little Rock.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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