Automakers

Industry's haircut takes a bit off the top of CEO pay

LJ
By:
Leslie J. Allen
May 25, 2009 05:00 AM
What counts

The compensation list is based on data compiled for Automotive News by Equilar Inc., an executive compensation research firm in San Mateo, Calif. Equilar analyzed proxy statements and other filings of public companies.

Automotive News defines total compensation as the amount an executive received in 2008. It consists of base salary, bonuses, incentive-plan compensation, exercised stock options, vested stock awards and other compensation. That last category covers perks ranging from club memberships to use of corporate aircraft.

The table also lists accumulated pension benefits and money in deferred-compensation plans, but Automotive News does not add those amounts to total compensation. And the total compensation figure does not estimate the value of unexercised stock options or awards that have been promised but not paid out.

Haircuts were all the rage in 2008.

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