Equilar’s research frequently appears in leading media publications, including Bloomberg, BusinessWeek, Forbes, Fortune, Reuters, The New York Times, and The Wall Street Journal. To learn more about recent coverage of Equilar research, please review the articles below.

Members of the press who are interested in learning more about Equilar's research and data services may direct inquires to press@equilar.com.

• 2008 Articles
• 2007 Articles
• 2006 Articles
• 2005 Articles
• 2004 Articles
• 2003 Articles
• 2002 Articles

2007 Articles

The Philadelphia Inquirer, December 29, 2007 Comcast founder's pay to outlast him "Alexander Cwirko-Godycki, research manager at Equilar Inc., a California executive compensation research firm, said his firm has not researched separation or termination agreements for company founders like Roberts. But an Equilar survey in 2006 of CEOs of the top-100 companies showed that terminated chief executives could expect to earn two to three years of salaries and bonus in severance benefits. The median age of those executives was 56. Comcast's agreement would appear to put the Roberts package at the top end of the separation deals."

Agenda Magazine, December 17, 2007 Comp Digest: Internal Pay Equity in the C-Suite "Boards appear to be doing a better job of achieving some level of pay equity among the ranks of named executive officers and CEOs. Recent analysis by research firm Equilar found that total compensation packages for S&P 500 CEOs represented 2.96 times the median pay for all other named executive officers. That's down from the prior year, when the level was 3.10 times median pay. Internal pay equity has become a bigger issue in the past couple of years for compensation committees as headlines detailing enormous CEO pay packages have become increasingly common."

The Charlotte Observer, December 16, 2007 See what's under 'golden parachutes' "Among the nine Charlotte-area Fortune 500 companies, Bank of America Corp. CEO Ken Lewis is in line for the biggest potential exit package, according to data compiled by California-based compensation research firm Equilar Inc. If he were to lose his job after a change in control such as a merger, his total payout could reach $136.9 million. In a study of this year's proxy filings, Equilar found that about 71 percent of CEOs at Fortune 200 companies were in line to receive severance such as cash payments, accelerated vesting of stock holdings and other benefits."

The Charlotte Observer, December 16, 2007 2006 CEO Compensation "Each year, the Observer shines a light on CEO compensation in the Carolinas. The report covers 50 of the Carolinas' largest public companies, based on revenue. Each year's survey covers a slightly different roster of companies. The Observer hired Equilar, a compensation research firm, to compile pay data from company filings with the U.S. Securities and Exchange Commission. Equilar also provided valuations for stock option grants, which can differ from company reports because the firm standardized variables to allow comparisons among companies."

The Wall Street Journal, December 12, 2007 Are Big Bonuses Still Due After a Bust? "A new analysis by Equilar Inc., a Redwood Shores, Calif., pay consulting firm, found plenty of noteworthy bonuses. The firm identified well-rewarded executives -- with cash bonuses of at least $1 million in 2006 -- whose stocks have skidded at least 20% this year. Such bonuses could be viewed as generous or even excessive; Equilar found 471 of them at 238 companies. Equilar's list -- no surprise -- is dominated by home-building and financial companies."

The Philadelphia Inquirer, December 10, 2007 The Philly CEO difference: Cash "Brian L. Roberts, Comcast Corp.'s chairman, chief executive officer and president, topped the executive-compensation chart, earning $27.5 million in 2006 - more than any other executive of any company with a major presence in the region. And his compensation reflects a trend in executive pay that is local - different from the national standard, according to Alexander Cwirko-Godycki, a research manager at Equilar Inc., the California-based executive-compensation firm that examined Philadelphia-area companies for The Inquirer."

The Philadelphia Inquirer, December 10, 2007 Highest-Paid CEOs "The following CEOs at Philadelphia-area companies are ranked by their total compensation in 2006 as calculated by Equilar Inc. Total includes salary, bonus, other pay, options awards, stock awards and long-term cash awards."

Chief Executive Magazine, December 7, 2007 INBOX: Stock Ownership Guidelines on the Rise "A growing number of companies are adopting stock ownership guidelines for executives, according to a new study by Equilar, an executive compensation research firm located in Redwood Shores, Calif. In 2006, 75.5 percent of Fortune 250 companies reported the use of ownership guidelines for executive officers, an increase from the 70.2 percent of companies with guidelines in 2005."

Corporate Secretary, December 5, 2007 Is it payback time? "In spite of the unsurprising tendency for executives to be reluctant to give back compensation, the Financial Week article indicates that research firm Equilar saw 40 Fortune 100 companies disclosed clawback policies in 2006, vs. just 17 in 2005. Companies that have recently disclosed such provisions in their 2007 proxies include Comcast, Intel, UnitedHealth and Time Warner."

Financial Week, December 3, 2007 Morgan Stanley's Cruz, a 25-year vet, could exit bank with $72.2 million "A review of Morgan Stanley's 2006 proxy indicates Ms. Cruz does not have an employment contract that would provide her with a cash severance tied to her departure. However, the payout could still be much greater than the $72.2 million estimate because the proxy was filed under old compensation disclosure rules and lacks sufficient information to value outstanding option awards, said Alexander Cwirko-Godycki, Equilar research manager."

Financial Week, December 3, 2007 SarbOx exec pay clawback could scratch Dell "According to compensation research firm Equilar, 40 Fortune 100 companies disclosed clawback policies in 2006, vs. just 17 in 2005. Companies that have recently disclosed such provisions in their 2007 proxies include Comcast, Intel, UnitedHealth and Time Warner - which last year booked a $584 million restatement of prior financials."

Chief Executive Magazine, November 27, 2007 Lowdown on Executive Perquisites "It was Thanksgiving last week. And at least one CEO chose to get into the holiday mood writing a fun blog, albeit on a sensitive subject: Executive perquisites. David Chun, CEO of Equilar, the Redwood Shores, California-based company that specializes in benchmarking executive and board pay and a NASDAQ strategic alliance partner decided to let his readers "get a kick out of" the lowdown he has on the goodies companies pay their executives."

Agenda Magazine, November 26, 2007 New Disclosures Bring Focus on Director Perks "Equilar's CEO Blog has highlighted some "interesting" examples of director perquisites. Despite recent Equilar research indicating that 16.1% of Fortune 100 companies eliminated some perks in 2006 or by the start of 2007, quirky perks for directors abound, the blog finds. Although the perks in question apparently serve the purpose of giving directors a better understanding of the company's products, with attention turning more and more to director pay that purpose might be lost on critics."

Agenda Magazine, November 19, 2007 Security Perks Wither Under Glare of New Comp Rules "While the drop in the median value of security benefits reflects the lower reporting threshold outlined in the SEC's new disclosure rules, companies are indeed giving their perks a closer look, says Alexander Cwirko-Godycki, a research manager with Equilar. 'One thing that's clear is that companies are looking at overall perks and are trying to determine if they're worth offering vis-a-vis their competitors,' he says. 'So, there is some cutting going on.'"

The New York Times, November 15, 2007 NYSE Chief Is Chosen to Lead Merrill Lynch "Mr. Thain took a pay cut to go to the exchange in early 2004: he made more than $20 million at Goldman in 2003 but agreed to a starting salary and bonus of $4 million at the exchange. He will leave with $820,000 of deferred compensation, $3.6 million in restricted stock and options on top of the $14.9 million he made at the exchange, according to Equilar and James F. Reda & Associates."

Portfolio Magazine, November 12, 2007 Shining a Light on Perquisites "The Securities and Exchange Commission may have its proof that sunlight is the most effective disinfectant on the corner office, at least when it comes to the indirect benefits the office's resident gets. According to a rule that went into effect at the end of 2006, public companies are required to disclose more information relating to the compensation and benefits packages of their executives. And as it turns out, plenty of them have since then decided to scale back on executives' fringe benefits, or so-called 'perquisites,' according to a new report by Equilar."

Crain's Detroit Business, November 12, 2007 No matter Dura's outcome, Denton in win-win "Denton would get $1.84 million if terminated without cause, according to court documents. That's just one of several possible scenarios. Denton does well under all of them. 'If the company is sold and Mr. Denton leaves, he could take home as much as $5.7 million in severance,' said Alexander Cwirko-Godycki of Equilar Inc. The Redwood Shores, Calif., company provides executive-compensation analysis."

Agenda Magazine, November 12, 2007 Performance-Based Equity Gains Traction "Under scrutiny for executive pay, boards are turning to performance-based equity for their execs' equity plans. So Compliance Week reports, citing a study of 925 Fortune 1000 companies by compensation research firm Equilar. The study finds that 43.6% of Fortune 1000 CEOs received a performance-based equity grant last year, the first year for which data was widely available. This compensation most often took the form of long-term incentive plan grants denominated in stock."

The New York Times, November 11, 2007 Countrywide's Chief Salesman and Defender "Equilar, an independent compensation research firm, calculated that since Mr. Mozilo became chief executive of Countrywide in 1999, he has taken home $410 million. That includes $285 million in option gains. Restricted stock awards worth $6.65 million were excluded from the calculation because they have not been sold."

The New York Times, November 11, 2007 Google Options Make Masseuse a Multimillionaire "One founder, Larry Page, has stock worth $20 billion. The other, Sergey Brin, has slightly less, $19.6 billion, according to Equilar, an executive compensation research firm in Redwood Shores, Calif. Three Google senior vice presidents - David Drummond, the chief legal officer; Shona Brown, who runs business operations; and Jonathan Rosenberg, who oversees product management - together are holding $160 million worth of Google stock and options."

Compliance Week, November 6, 2007 Options Continue Decline, Performance-Based Plans Climb "Equity usage overall, and reliance on stock options in particular, continued their downward march at Fortune 1000 companies in 2006, in keeping with a trend that started when the first companies started expensing stock options in 2002 in anticipation of an accounting rule change that required all companies to do so in 2005. That's according to a study of 925 Fortune 1000 companies by compensation research firm Equilar Inc."

Financial Week, November 5, 2007 Former Citi CEO's exit pay a not so princely sum "The Times - which used compensation research firm Equilar and James Reda & Associates, a pay consultant, to crunch the numbers - included about $60 million in previously owned or vested stock by Mr. Prince. Equilar spokesman Alexander Cwirko-Godycki said that while this uses a 'broad' interpretation of exit pay, it does represent the full extent of what Mr. Prince will walk away with."

Financial News, November 5, 2007 Analyst predicts another $5bn in Merrill Writedowns "CNBC reported today that Merrill's board, led by interim chief executive Alberto Cribiore, had approached BlackRock chief executive Laurence Fink about the top job at Merrill. Fink made $14.8m last year, while deposed Merrill chief executive Stan O'Neal earned about $46.3m, according to Equilar research"

The New York Times, November 5, 2007 Fixing Citigroup Will Test Rubin "Mr. Prince, who has been under pressure for months, offered his resignation after the latest earnings blow became clear. 'It is my judgment that the size of these charges makes stepping down the only honorable course for me,' he wrote in a memo to employees yesterday. He will leave with $105.2 million in cash and stock, on top of the $53.1 million in pay he took home in the last four years, according to data from Equilar and James F. Reda & Associates."

The New York Times, November 4, 2007 Citi Watch: A King's Ransom for Prince's Exit? "On Friday, The Wall Street Journal did some back-of-the-envelope calculations on Mr. Prince's possible take-home pay. But it appears the paper might have been off a little. Mr. Prince will leave with vested stock holdings valued at $94 million on top of the roughly $53.1 million in pay he took home in the last four years, according to James F. Reda & Associates, a compensation consulting firm, and Equilar, a data provider."

The New York Times, November 3, 2007 Citigroup Chief Is Set to Exit Amid Losses "Mr. Prince will leave with vested stock holdings valued at $94 million on top of the roughly $53.1 million in pay he took home in the last four years, according to James F. Reda & Associates, a compensation consulting firm, and Equilar, a data provider. Included is a pension worth $1.74 million and another one million stock options, which have no current market value because of the stock's sharp decline. They have a potential estimated value of about $4 million based on current estimated values - and possibly more if the stock rises."

The New York Times, November 2, 2007 Verizon to Put Executive Pay to Shareholder Vote "Last year, Ivan G. Seidenberg, Verizon's chief executive, received a pay package worth $20 million, 11 percent more than in 2005, according to Equilar Inc., a compensation research firm in Redwood Shores, Calif. In earlier years, Mr. Seidenberg received sizable pay increases even when the company's performance was lackluster."

Western Banking Magazine, November 1, 2007 Trends in Board Compensation and Composition "Amidst new SEC regulations and corporate governance issues, such as option backdating scandals, directors are facing greater responsibilities and a bigger workload. As a result, directors are receiving higher compensation. In addition, to avoid conflict of interest, board independence is continuously getting stronger. To understand such trends, Equilar, Inc looked at 56 banks in the Western United States with net assets of less than $5 billion, and compared board composition and compensation data disclosed in SEC filings for fiscal years 2004 and 2006."

The New York Times, October 31, 2007 Are Wall Street Chiefs Worth Their Pay? "Only three investment-banking chief's have presided over rises in their firm's stock prices from Dec. 31, 2005, to Oct. 30. And according to data provided to The Times by Equilar, which tracks executive compensation, they aren't necessarily the highest-paid ones."

The New York Times, October 30, 2007 Merrill Chooses Interim Leader and Begins C.E.O. Search "Last year, Mr. O'Neal's $46.4 million pay package made him Wall Street's second-highest paid chief executive, behind Lloyd C. Blankfein of Goldman Sachs, who was paid $54.3 million, according to Equilar research."

The New York Times, October 30, 2007 Merrill Lynch's $32 Million Man? "Add it all up and it would take at least $32.4 million for Mr. Fink to be 'made whole.' While that amount seems large, Merrill's board has a lot of bargaining power. That is because the pay differential between Mr. O'Neal and Mr. Fink is so dramatic, explained James F. Reda, whose firm conducted the analysis. Mr. O'Neal was paid about $46.3 million last year; Mr. Fink made about $14.8 million, according to Equilar research."

Portfolio Magazine, October 30, 2007 Homeland Security, Corporate America Style "More than half of the 93 publicly traded Fortune 100 companies said they provide home and personal security benefits for their executives. And twice as many companies are providing such benefits- 53.8 percent in 2006 compared with 23.2 percent in 2003, according to Equilar, an executive compensation consulting firm in Redwood Shores, California. The Securities and Exchange Commission disclosure rules, starting at the end of 2006, require publicly traded companies to give more details of exactly what security perks they are providing, said Equilar spokesman Alexander Cwirko-Godycki."

The New York Times, October 29, 2007 A Perpetual Name on Wall Street's Short Lists Is a Front-Runner at Merrill "It also handsomely rewarded Mr. Fink. Since 2002, he has earned more than $75.2 million and he holds at least $391 million in BlackRock shares at current prices. That compares with the roughly $160 million and $159 million in stock and retirement benefits that Mr. O'Neal received in roughly the same period, according to Equilar and James F. Reda & Associates, which track executive compensation."

Chief Executive Magazine, October 29, 2007 Less Is More "It's worth noting that many tech companies do not make severance arrangements at all. Cisco, Google, Intel, and Microsoft do not have exit packages for their senior executives. Many critics of CEO pay like it that way. However, this is not the norm. According to research by Equilar, a compensation research firm, the median potential CEO severance for companies in the Fortune 200 is about $21 million."

The New York Times, October 27, 2007 The Price of Any Departure Will Be at Least $159 Million "Last year, Mr. O'Neal's $46.4 million pay package made him Wall Street's second-highest paid chief executive, behind Lloyd C. Blankfein of Goldman Sachs, who was paid $54.3 million, according to Equilar research."

BusinessWeek, October 26, 2007 Perform or Perish "The lure: big equity stakes in the companies they manage and, if all goes well, big paydays when the companies are sold. For example, in the four years since buyout firm TPG recruited former Gap CEO Millard "Mickey" Drexler to run clothier J. Crew Group, which he took public in July, 2006, the CEO has hauled in more than $323 million, reckons compensation researcher Equilar."

The New York Times, October 25, 2007 Shake-Up and Job Cuts at Bank of America "Keith Banks, 51, who runs the Columbia Management mutual fund arm, will succeed Mr. Moyihan as the head of wealth management. Mr. Taylor, who Equilar says will leave with a $35 million exit package, will stay on until the end of the year."

Agenda Magazine, October 22, 2007 Director Pay Flatlines, a First Since Sox "The findings in the study, which was released last week at the NACD's annual conference, offer a sign of hope to boards. Lower pay, especially for committees, could indicate some workloads are becoming more manageable. As boards and particularly higher-paid committees like audit gain greater command of SOX’s intricacies, they have fewer reasons to meet. In fact, Equilar research points to a downward trend in audit committee meetings. In 2006, the committees met only nine times, a 4.4% drop from the prior year."

Bureau of National Affairs, October 22, 2007 Restricted Stock, Performance Awards Popular With Fortune 1000, Study Finds "A study of equity compensation trends at Fortune 1000 companies released Oct. 19 finds a decline both in equity usage and reliance on stock options in compensating executives and employees. According to Equilar's research manager, Alexander Cwirko-Godycki, the main drivers of the trends in equity compensation are FAS 123R's requirements for expensing stock options, shareholders' concerns over dilution, and the SEC's amended disclosure rules that allow observers to view how public companies structure their performance-based plans."

MSN, October 18, 2007 The sky's no limit for CEO perks "Last year, the latest year for which numbers are available, 73 of the Fortune 100 companies reported that their CEOs used the corporate jet for personal travel, up from 65 in 2005 and 57 in 2004, according to Equilar, an executive-compensation research firm in Redwood Shores, Calif. CEOs are using the jets for private travel more often, too. Last year the median estimated cost of the corporate jet perk at Fortune 100 companies was $121,676, up 12% from the $108,579 median reported in 2005, says Equilar."

Bloomberg, October 17, 2007 Large Stock-Options Grants May Hurt Investors "In a study I did this year of 542 U.S. companies with market caps of at least $3 billion during 2006, I found that the median CEO, who had 4.8 years' tenure at the end of 2006, was holding $18 million of real shares. He was also holding unexercised options granted in past years that contained a paper profit of another $14 million. Data were obtained from Equilar Inc."

Compliance Week, October 16, 2007 Clawback Policies for CEO Pay Rising Swiftly "Such 'clawback' policies are growing rapidly among large companies, compensation experts say. According to compensation research firm Equilar, the number of Fortune 100 companies disclosing such policies has more than doubled, from 17 percent in 2005 to 42 percent last year."

Agenda Magazine, October 15, 2007 Spotlight Shines Brighter on Comp Committees "Comp committee chairs earned a median of $12,500 in committee pay among the S&P 1500 last year, according to Equilar's 2007 Compensation Committee Trends Report. That's a 5.8% increase from 2005. The pay hasn't caught up with the audit committee chair, who earned a median of $20,000 in 2006."

Agenda Magazine, October 15, 2007 Boards Take Hatchet to Executive Perks "Of the 42 companies that have scaled back on the perks they award their executives, 46.7% and 36.7% dumped company cars and club memberships, respectively, Equilar data shows. Another 30% scrapped financial planning and 23% got rid of tax gross-ups."

BusinessWeek, October 11, 2007 Smaller Perk Packages for CEOs "Equilar is quick to point out that the drop in certain perks is driven in part by the new rule itself rather than any resulting change in behavior: Because the old rules only forced disclosures of individual perks worth $50,000 and up, the non-itemized ones below that threshold couldn't be calculated into the averages for past years. Still, Equilar also gives partial credit for the declines to "perk paranoia" brought on by the new rules, with companies opting to nix certain extras rather than deal with bad publicity."

San Jose Mercury News, October 9, 2007 SEC may take hard look at stock-pay plans "At least one executive at nearly half of Silicon Valley's 150 largest companies uses a trading plan, compared with about one-third of Fortune 500 companies. This count is probably low, however, because companies aren't required to disclose them, Equilar said."

Portfolio Magazine, October 5, 2007 Payback Time for Ahold's Ex-Executives "Clawback arrangements are becoming increasingly common. A recent study by Equilar, the executive compensation consulting firm, found that 42 percent of the publicly traded members of the Fortune 100 disclosed clawback provisions in 2006, compared with about 17 percent in 2005."

Bloomberg, October 3, 2007 Ellison's $53 Million Pay Beats Ballmer, Palmisano "Ellison has been Oracle's CEO since he co-founded the company in 1977, so he's responsible for each year's result, good or the bad, since then. And Oracle comes up short even when taking into consideration that most computer and software companies took huge stock hits in the 2000 crash. I looked at 15 major U.S. companies (including Oracle) in the computer, computer storage, semiconductor and software industries, all with current market caps of at least $10 billion. Equilar Inc. provided the raw data for this analysis."

CNN Money, October 2, 2007 Best-paid executives: The gender gap exaggerated "Last year women made impressive strides in the corporate world, snagging the corner office at more Fortune 500 companies - 13, up from 10 the year earlier - and racking up impressive paychecks. Indeed, Zoe Cruz, co-president of Morgan Stanley, took home $30 million in total compensation last year, making her the best-paid corporate woman, according to Fortune's annual list. Equilar Inc., a Redwood Shores, Calif.-based compensation research firm, calculated the results for Fortune."

Fortune, October 1, 2007 25 Highest-paid women "Which corporate women raked it in - and how much did they earn? Equilar, an executive compensation research firm in Redwood Shores, Calif., prepared the chart by looking at companies with more than $1 billion in revenues that filed proxies by Sept. 1."

Fortune, October 1, 2007 25 Highest-paid men "See how the best-compensated male executives' paychecks compare. Equilar, an executive compensation research firm in Redwood Shores, Calif., prepared the chart by looking at companies with more than $1 billion in revenues that filed proxies by Sept. 1."

Directorship, October 1, 2007 The CEO's Agent "Today, 62 percent of Fortune 100 CEOs have severance packages in place that provide pay in the event of termination for good reason and without cause, according to Equilar, which benchmarks trends in executive and board compensation."

CNET Blogs, September 21, 2007 CEO exit packages are out of control "According to a survey by Equilar - an executive pay research company - the average potential exit payout for Fortune 200 CEOs was $21 million last year."

The Chronicle of Philanthropy, September 19, 2007 Compensation growth for CEO's outpaced inflation, survey finds "The Equilar survey also found that the median total compensation for chief business executives, a formula that includes salary, bonuses, incentive plans, and stock awards, increased by 6 percent to more than $8.5-million."

Birmingham Business Journal, September 19, 2007 Nonprofit execs' pay raises outpacing for-profit counterparts "The median base salary of chief executives at large companies grew by just 0.1 percent to $1 million in 2006, according to a survey by Equilar, a San Mateo, Calif., company that studies executive and board pay for the for-profit world."

Bloomberg, September 19, 2007 Roth Is Highest in Option Rewards, Semel Lowest "Steven Roth, the chief executive officer of New York-based Vornado Realty Trust, reaped $186 million in option rewards in 2006, the most among CEOs of 465 U.S. companies. At the other end of the spectrum, Terry Semel, the non-executive chairman of Yahoo! Inc., lost $162 million. I looked at the 465 companies with market caps of $3 billion or more to find the gains from exercising options and how much unexercised options increased paper profits for CEOs, or what I call option wealth-change. Raw data for this study were provided by Equilar Inc."

Financial Week, September 17, 2007 The highest-paid CFOs "To be sure, many of these perks may simply be new disclosures that were required once the SEC's rules on executive compensation changed, as opposed to new perks. After all, the Equilar study found that 20% of the Fortune 500 CFOs were not included in their company's summary compensation tables because they were not among the top five in terms of compensation. Given that perks are usually disclosed in the 'all other compensation' category in the tables, that alone would explain why some of these disclosures appear to be new."

Compliance Week, September 11, 2007 Golden Parachutes Still Open for Business "A new study of change-in-control payments at Fortune 100 companies shows that 76 percent have such arrangements for their CEOs, with most receiving a cash payment of triple their base salary. The study, done by compensation research firm Equilar, shows that of the Fortune 100 that do have change-in-control agreements, 84 percent receive cash payments only in the case of a double trigger; 16 percent receive them in the case of a modified trigger. None receive cash payments after a single trigger alone."

Chief Executive Magazine, September 10, 2007 Flying High? "Aircraft perquisites - and disclosure of them - seem to be on the rise among CEOs of Fortune 100 companies, reports Equilar's Executive Compensation newsletter. More than 78 percent of companies reported that their CEOs used corporate - owned, leased or chartered aircraft for personal use in 2006 as compared to 68.4 percent in 2005 and just 59.4 percent in 2004."

HR Executive Magazine, September 6, 2007 Executive Pay Faces More Scrutiny "'People need to pay better attention to the decision-making process itself,' says Alexander Cwirko-Godycki, research manager for Equilar, a Redwood Shores, Calif.-based executive-compensation research firm. 'It's no longer enough to say, 'The bonus was X.' It has to be 'Here's the formula we used, here's why we used it and here's how we'll make [executive-compensation] decisions down the road.'"

Bloomberg, September 5, 2007 Parsons, 34 Chiefs Perform Without Monster Pay "I found 34 other CEOs at U.S. companies with market caps of at least $3 billion who show that huge compensation isn't a prerequisite for outstanding performance. The CEOs were culled from my study of compensation versus performance for 542 chief executives. Raw data for this study were obtained from Equilar Inc."

WebCPA, September 5, 2007 CEOs Get High-Priced Financial Planning "The median value of financial planning-related perquisites for Fortune 100 CEOs increased 16 percent from 2005 to 2006, climbing from $14,784 to $17,156, according to a study by Equilar, a company that specializes in executive compensation benchmarking."

Portfolio Magazine, September 4, 2007 Looking Out for No. 1 "Once upon a time - that would be 2005 - fewer than one in three Fortune 100 companies acknowledged having picked up the tab for its chief executives' tax- and financial-planning advice. In 2006, almost three-fourths of the country's 100 biggest companies said it had done so, according to a new study from Equilar, an independent executive-compensation research firm in California."

San Jose Business Journal, September 4, 2007 CEO perk grew 16% in 2006 "Executive compensation research firm Equilar Inc. said Tuesday its latest study shows that the median value of financial planning-related perquisites for Fortune 100 CEOs increased by 16 percent from 2005 to 2006, climbing from $14,784 to $17,156. Redwood City-based Equilar said that in 2006, 74.2 percent of Fortune 100 companies indicated that their CEO received financial planning-related perquisites, while 29.5 percent of companies made that disclosure in 2005."

Agenda Magazine, September 3, 2007 Directors: Exec Pay Needs Closer Tie to Performance "Currently, 68.5% of Fortune 500 executives' pay is performance-based, according to research by Equilar. As performance pay gains a greater foothold, concerns arise over whether companies are using reliable performance metrics, says Alexander Cwirko-Godycki, a research manager with Equilar. For example, revenue growth may be a poor metric for a company with low profit margins."

The New York Times, September 2, 2007 Reeling In the College-Bound "By the time he resigned two years ago, Mr. Meyers had become wealthy. Between 2003 and January 2006, he cashed in more than $86.4 million in stock, according to Equilar, a research firm. He still holds $188 million in First Marblehead stock."

E-Commerce Times, August 29, 2007 Google CFO Reyes Rides Into Sunset "Still, Google can likely make it very worthwhile for a high-profile executive to take the position. Reyes received salary and bonuses of about $1.7 million, according to Google's filings with the Securities and Exchange Commission, but received about 51,000 stock options with an estimated market value of more than $21 million. Those options come in addition to an estimated $250 million worth of stock options he has exercised since the IPO, according to compensation research firm Equilar."

The New York Times, August 29, 2007 Finance Chief of Google Plans His Retirement at 53 "During his tenure, Mr. Reyes sold $259.5 million in Google shares, according to Equilar, an executive compensation research firm. In addition, he earned $3.1 million in salary and bonuses, according to Equilar. And as of March 1, Mr. Reyes owned 4,319 Google shares, worth about $2.2 million at Tuesday's closing price of $506.40. He also had the right to exercise 51,750 stock options with a strike price of $5, Equilar said, which, if sold at Tuesday's closing price, would mean a gain of almost $26 million."

The Wall Street Journal, August 29, 2007 Google's Finance Chief to Resign "Mr. Reyes is among the executives whose Google-related wealth following the company's 2004 IPO has afforded them the independence to leave, though few of the top brass have to date. At the end of 2006, he had 51,750 exercisable Google options that had a value of about $23.6 million, and had also sold $259.5 million of Google stock since August 2004, according to compensation-research company Equilar Inc."

Plastics News, August 27, 2007 Experts vary on future of compensation "Despite that strong cash orientation in total compensation, the prevalence of stock options and equity awards in the plastics industry is similar to companies in other industries, said Alexander Cwirko-Godycki, a research manager with Equilar. That is, companies are making greater use of restricted stock awards that are granted if performance levels are achieved."

Plastics News, August 27, 2007 Experts: Value of disclosure reports mixed "'The option and stock awards are given a dollar value, but it doesn't reflect the awards given to an executive in that year,' said Equilar research manager Alexander Cwirko-Godycki. 'It only recognizes the portion of any outstanding equity awards that vest in that year. It gives us an accounting perspective, but it doesn't necessarily reflect the full extent' of the equity award - which often is spread over three to five years, he added."

Plastics News, August 27, 2007 Executives' departure deals face new scrutiny "Expect the next area of scrutiny in executive pay packages to be post-employment compensation everything from change-in-control packages, severance arrangements and retirement to nonqualified deferred compensation. 'These are all things that everyone knew existed, but, in the past, there was no way of quantifying the total amount,' said Alexander Cwirko-Godycki, research manager with Equilar Inc., an executive compensation research firm in Redwood City, Calif."

Bloomberg, August 22, 2007 Mulva, Whitman, Dimon Hold Millions in Options "Those option shares have an average of 5.2 years to go before their expiration. (Most options contain terms of 10 years.) If those same option shares were held until expiration, and if the companies' stock grew at a normalized rate, the total would rise to $16 billion. A listing of the current paper profits and the potential paper profits of the top 60 CEOs can be found by clicking here. Raw data for this study were obtained from Equilar Inc."

Bloomberg, August 10, 2007 FASB Should Revise Stock Options' Earnings Rule "Between 1993 and mid-2005, companies weren't required to charge their earnings for stock options, though many reported the grant-date fair value anyway. Then the typical effective exercise period used by major companies was about 7 1/2 years. And today? The effective term, based on my study of 331 option grants with 10-year terms made in 2006 to chief executive officers running U.S. companies with market values of $4 billion or higher, is down to 5.6 years. Data for this study were supplied by Equilar Inc."

Reuters, August 3, 2007 As automakers sputter, exec pay issue looms (PDF) "In fiscal 2006, automotive industry chief executives earned a median of $7.1 million in total compensation, up 1.1 percent from the previous year, according to a survey by compensation tracking service Equilar. By contrast, total compensation for all S&P 500 CEOs rose 6 percent to a median of $8.5 million."

HR Executive Magazine, August 1, 2007 HR's Elite: The Class Of '06 (PDF) "Equilar Inc. of San Mateo, Calif., produces the ranking of the 50 highest-paid HR executives exclusively for HRE. In all, 174 former and current HR executives were among the five most highly compensated officers in their companies and were, therefore, listed in the SEC filings of the Russell 3000 companies surveyed. This year's ranking has been expanded from 40 HR executives to 50."

Agenda Magazine, July 30, 2007 Comp Rule Drives Severance Overhaul (PDF) "Still, experts agree that criticism of severance does not mean it has lost its importance. In fact, executive compensation research firm Equilar recently found that 71% of CEOs of Fortune 200 companies were eligible for severance last year and nearly 82% can access change-in-control plans."

Agenda Magazine, July 23, 2007 New Comp Rules Spur Severance Debate (PDF) "A study by executive compensation research firm Equilar finds that the median CEO severance payment at 137 Fortune 200 companies was about $21 million last year, while the median for change-in-control packages was about $28.6 million."

Bloomberg, July 18, 2007 Goldman, Occidental Finance Officers Lead in Pay (PDF) "I took a look at total pay in 2006 versus 2005 for 545 CFOs working at U.S. companies with $4 billion or more of market value. Here's what I found: The median total pay in 2006 for a CFO was $2.5 million, an increase of 17 percent from 2005, and the average total pay was $3.3 million, or 9 percent more. [...] Data for this study were obtained from Equilar Inc."

Agenda Magazine, July 16, 2007 Boards Take More Control of Succession (PDF) "Scrutiny on pay-for-performance has also helped drive the push to develop internal talent. In fact, a recent a study by executive comp research firm Equilar found that CEOs hired in 2005 from internal ranks earned $3.1 million less than CEOs recruited from outside."

Chicago Tribune, July 15, 2007 Directors' compensation, workload rise (PDF) "Compensation experts at Equilar Inc. report the median pay for non-employee directors at Fortune 500 companies rose 10 percent last year, to $165,000. That's on top of double-digit pay increases at major U.S. companies each year since the law took effect, according to studies by Institutional Shareholder Services."

The Washington Post, July 12, 2007 Capital One Chief Cashes In on Stock (PDF) "Fairbank will exercise and sell a total of about 2.1 million shares under a stock trading plan that he entered into in February. Such plans are being used increasingly by executives as a shield from accusations of insider trading. In 2006, 35 percent of S&P 500 companies had at least one executive officer with an active stock trading plan, known as 10b5-1 plan, according to Equilar, an executive compensation research firm located in San Mateo, Calif."

Compliance Week, July 10, 2007 Corporate Aircraft Usage By Executives Soars (PDF) "For these executives, the median value of the aircraft benefit also increased 12.1 percent from $108,579 in 2005 to $121,676 in 2006. Alexander Cwirko-Godycki, research manager at Equilar, notes that some of the increase is likely a result of new Securities and Exchange regulations, which lower the disclosure threshold for executive perks and are forcing companies to report much higher costs for perks generally."

The New York Times, July 10, 2007 A Maverick of Industry in Canada (PDF) "His wealth is sometimes an issue in a country where fortunes are not always admired. He is among the highest paid businessmen in Canada, receiving $27.7 million in total compensation during 2006 from Magna, according to Equilar, a compensation research firm, far more than the $9.5 million that General Motors paid Rick Wagoner, its chief executive."

The Indianapolis Star, July 9, 2007 Healthy perk puts CEOs to the test (PDF) "In 2006, 38 percent of Fortune 250 companies disclosed that their CEOs received annual physicals, according to Equilar, a compensation research firm in San Mateo, Calif. The median cost of the exam, when disclosed, was $2,695."

CFO Magazine, July 1, 2007 Drowning in Data (PDF) "Then there are those who expect only minor changes to fix the highly unusual problems that cropped up, such as the ability of Marshall & Ilsley Corp. to report that its former CFO, John Presley, made negative $315,734 in 2006. Indeed, compensation firm Equilar Inc. found that 2 percent of the 900 proxies it reviewed had executives reporting negative compensation."

Reuters, June 29, 2007 Sweet severance packages go to CEOs (PDF) "Even more CEOs - nearly 82 percent - are in line to receive so-called "change in control" payments should their employment be terminated following a corporate change, such as a takeover of the company, the study by executive compensation research firm Equilar Inc. found. The median potential change-in-control payment is about $28.6 million, Equilar said."

Cincinnati Business Courier, June 29, 2007 Raking it in (PDF) "Based on Equilar's research, 61 percent of S&P 500 CEOs received some sort of performance-based - not time-based - stock awards. 'These types of awards are becoming more prevalent,' said Alexander Cwirko-Godycki, research manager at Equilar. 'There has been a lot more pressure for performance-based compensation.'"

CNBC, June 28, 2007 Fired CEOs Cashing In (Video) "Today, executive-compensation benchmarking firm Equilar released a report regarding exit packages for Fortune 200 CEOs in 2006: median severance for termination was $21 million and the median payout for change-in-control exits was $28.6 million."

Fortune Small Business, June 25, 2007 FSB 100: Top 25 richest execs "These insiders all own $10 million or more in stock and options in America's fastest-growing small public companies. Equilar, an executive-compensation research firm in San Mateo, Calif., reviewed proxy statements for firms on our list."

The Seattle Times, June 24, 2007 2006 another lucrative year for top NW execs (PDF) "After expenses, Expeditors had a record operating profit of $375 million in 2006. And its top five executives? They collected bonuses totaling nearly $19.2 million, more than any other top five executives in the Northwest last year, an analysis by San Mateo, Calif., research firm Equilar shows."

The Seattle Times, June 24, 2007 Despite heat, pay at the top kept going up (PDF) "Kerry Killinger, CEO of Washington Mutual, topped this year's list of publicly traded companies with a pay package valued at $18.1 million. He was followed by Expedia's Dara Khosrowshahi at $16.4 million and Safeco's Paula Rosput Reynolds at $13.9 million, according to the analysis by Equilar, an executive-compensation research firm in San Mateo, Calif."

The Seattle Times, June 24, 2007 New SEC rules made ranking pay a bit tougher than usual (PDF) "The Seattle Times hired Equilar, a San Mateo, Calif., executive-compensation research firm, to gather the information and compile the rankings. Among companies that disclosed pay under the new rules, total compensation is the sum of base salary, bonuses, cash incentive plan payouts, stock and option awards and a catch-all category called "other compensation," typically perks."

The Wall Street Journal, June 19, 2007 Amid Missteps, Yahoo's Semel Resigns as CEO (PDF) "Mr. Semel was awarded another $71 million in stock options in the 2006 fiscal year, Equilar says. Some of that grant has already vested, and Mr. Semel will be able to exercise those options over the next three years, but he may not be able to exercise the unvested options, says Equilar. A Yahoo representative confirmed that Mr. Semel loses any unvested options as part of the change."

Idaho Statesman, June 19, 2007 Idaho's CEOs rake it in (PDF) "Tying pay to performance has long been a demand from shareholders, said Alexander Cwirko-Godycki, a research manager with Equilar Inc., a compensation research firm in San Mateo, Calif. Most Idaho companies surveyed have provisions in place that tie performance to a certain percentage of an executive's compensation. [...] Equilar completed a survey of companies in the S&P 500 earlier this year that found 61 percent of the companies granted equity awards with performance-based vesting features."

The New York Times, June 18, 2007 Yahoo's Chief Resigns, and a Founder Takes Over (PDF) "During his tenure, Mr. Semel was richly rewarded. He has realized gains around $451 million from stock options and other pay, according to a report by the executive compensation firm Equilar, making him one of the highest paid executives in the nation."

Agenda Magazine, June 18, 2007 Equity Outpacing Cash for Directors' Compensation Plans (PDF) "In addition to providing attractive payouts to directors in good times, equity programs are likely to encourage boards to have a greater vested interest in their companies' long-term performance, says Alexander Cwirko-Godycki, a research manager with Equilar. 'We are seeing an increase in the use of deferred stock and units that will only vest upon retirement from the board,' Cwirko-Godycki says, adding that such arrangements can help directors gain a deeper interest in the company's future performance."

The Wall Street Journal, June 12, 2007 How Blackstone Will Divvy Up Its IPO Riches (PDF) "In the ranking of executives holding stakes in their companies, Mr. Schwarzman's will rank behind Microsoft Corp.'s Steve Ballmer's $12.6 billion and close to Rupert Murdoch's $7.7 billion stake in News Corp., according to Equilar Inc."

The New York Times, June 12, 2007 For Yahoo, an Ordeal of Dissent (PDF) "Mr. Semel has realized gains of about $451 million from options and other pay since he joined Yahoo, according to a report by Equilar, an executive compensation firm."

Agenda Magazine, June 11, 2007 Financial Firm Boards Get Pay Hike (PDF) "The increase in compensation within the financial services industry also comes as board members across the Fortune 500 are enjoying a raise in pay. Directors saw their total compensation rise 10% to $165,000 in 2006, according to a recent study by Equilar, an executive-compensation research firm."

Agenda Magazine, June 11, 2007 Audit Committees Increase Oversight of Internal Auditors (PDF) "Recently, the number of audit committee meetings, although still high, appears to be leveling off and SOX-related work has eased up a bit for directors. In fact, the prevalence of Fortune 500 companies holding 10 or more audit committee meetings per year decreased from 47.4% in 2005 to 43% in 2006, according to Equilar."

Reuters, June 11, 2007 FACTBOX-Blackstone CEO stake as compared to others (PDF) "The valuation of Schwarzman's stake is based on an expected IPO pricing of $30 per share. He will own about 23 percent of Blackstone after the offering, according to a filing on Monday with the U.S. Securities and Exchange Commission. The chart below, provided by compensation research firm Equilar Inc., shows where Schwarzman's stake ranks compared to the holdings of other executives in their companies."

Associated Press, June 09, 2007 Occidental chief Irani tops a list of CEOs for options exercised (PDF) "It also comes on top of Irani's $52.8 million in total compensation for 2006 that placed him No. 3 on the AP's separate list of top-paid chief executives. 'He is consistently among the top-earning CEOs,' said senior analyst Alexander Cwirko-Godycki of compensation research firm Equilar."

San Jose Mercury News, June 09, 2007 Firms dealing out fewer stock options (PDF) "Three trends are unmistakable, according to data from Equilar, an executive compensation research firm in San Mateo: Companies are dealing out fewer options; They're substituting restricted stock instead; and Companies are starting to tie performance criteria to option and restricted stock packages."

San Jose Mercury News, June 09, 2007 How we crunched the numbers (PDF) "The Mercury News' yardstick of executive pay is changing, taking advantage of new Securities and Exchange Commission rules in December that provide greater disclosure and detail than ever before. These tables present the 2006 compensation for 133 chief executive officers heading Silicon Valley's largest companies based on revenue. The pay data was compiled from proxies filed by April 30 and analyzed by Equilar, an executive compensation research firm in San Mateo."

The Indianapolis Star, June 03, 2007 Healthy paychecks (PDF) "However, handsome pay packages extended far beyond health care, according to an analysis conducted for The Star by compensation-research firm Equilar, of San Mateo, Calif. In 2006, 27 of 45 Indiana companies paid their CEOs at least $1 million in total compensation -- which includes salary, bonus and other short-term incentive pay, as well as stock, stock options and miscellaneous pay. The CEOs made an average of $2.4 million, with the bulk of that coming from cash incentives and stock options and grants, according to Equilar."

The Indianapolis Star, June 03, 2007 CEOs set for now -- and for retirement (PDF) "According to Equilar, in 2006 the median value of accumulated pension benefits for CEOs of S&P 500 companies was $6.7 million and the median deferred-compensation balance was $3.7 million. Most big-company CEOs have both perks: 81 percent of S&P 500 CEOs had a pension and 85 percent had deferred compensation plans, Equilar said."

The Indianapolis Star, June 03, 2007 CEO perks: cars, physicals and the best seats (PDF) "Rene Champagne, who retired as chief executive of ITT Educational Services in April, received extra compensation worth $18,230 related to use of a company car last year, according to research firm Equilar."

The Des Moines Register, June 03, 2007 Griswell, Oman head up list of top-paid Iowa executives (PDF) "The Des Moines Sunday Register examined pay for top executives at the 20 largest Iowa-based publicly traded companies as measured by their market capitalization, or total value of outstanding shares. [...] Survey information was taken from proxy statements, which publicly traded companies file with the U.S. Securities and Exchange Commission. Results were compiled by Equilar Inc., a California company that analyzes executive pay."

The New York Times, May 31, 2007 Yahoo Technology Chief to Leave in Wake of Company Revamping (PDF) "As part of his separation agreement, Mr. Nazem will receive a lump sum equal to his base salary for the rest of the year as well as accelerated vesting of stock options and stock awards, a package that an executive compensation firm, Equilar, estimated around $6.9 million."

Crain's Chicago Business, May 28, 2007 New era of full disclosure? (PDF) "'It makes the whole calculation of bonuses less of a black box for investors,' says Alexander Cwirko-Godycki, senior analyst at Equilar Inc., an executive compensation research firm in San Mateo, Calif. 'Companies aren't just listing the performance measures they're using, but explaining how they chose them. It gives people a clearer idea of how the board is thinking.'"

Crain's Detroit Business, May 28, 2007 CEO-CFO pay gap grows (PDF) "Data prepared by Crain's Detroit Business' sister publication, Financial Week by Equilar Inc., an executive pay benchmarking company based in San Mateo, Calif., shows that median total compensation for CFOs at S&P 500 companies rose substantially after Sarbanes-Oxley was passed but declined in the last two years. Median CFO pay fell from $2.69 million in 2004, or 36.1 percent of CEO pay, to $2.61 million last year, or 32.2 percent."

Automotive News, May 28, 2007 Supplier CEO's top payday list (PDF) "This year's compensation list is based on data from Equilar Inc., an executive compensation research firm in San Mateo, Calif. Equilar analyzed proxy statements and other filings for publicly traded suppliers, dealership groups and automakers."

Automotive News, May 28, 2007 New proxy statements make year-to-year comparisons hard (PDF) "Five companies in the Equilar survey - ArvinMeritor Inc., DaimlerChrysler AG, Johnson Controls Inc., Magna International Inc. and Shiloh Industries Inc. - filed their proxies under the old SEC regulations. Equilar used slightly different calculations for those companies."

The New York Times, May 19, 2007 Say-on-Pay Gets Support at Verizon (PDF) "Ivan G. Seidenberg, Verizon's chief executive, received a pay package worth $20 million last year, an 11 percent increase over 2005, according to Equilar Inc., a compensation research firm in San Mateo, Calif."

St. Paul Pioneer Press, May 19, 2007 Proxies shed light on CEO stashes (PDF) "A full 85 percent of SP 500 CEOs have some balance in their deferred plans. The national median last year was more than $3.7 million, according to a recent survey by Equilar Inc., a San Mateo, Calif.-based compensation analytics company. Generally, the balances can't be touched, except in certain circumstances, until executives retire or leave."

Law.com, May 16, 2007 SEC Scrutiny of Stock Plans Could SpellTrouble for General Counsel (PDF) "In January 2004, Mark Webbink, then-general counsel for software maker Red Hat Inc., entered into a plan designed to put his stock trades on autopilot. Broadcom Corp.'s general counsel, David Dull, made a similar move the following year -- as have executives at more than 35 percent of S&P 500 companies, according to a 2006 study by Equilar."

San Jose Mercury News, May 15, 2007 State cautious on estimating tax revenue (PDF) "And a Mercury News analysis in April indicated that employees at 10 of Silicon Valley's largest companies were sitting on an estimated $7 billion in stock option profits. That's even as nearly 700 executives at Silicon Valley's 150 biggest companies pocketed nearly $1.5 billion in gains last year, according to Equilar, an executive compensation research firm in San Mateo."

Treasury & Risk Magazine, May 15, 2007 A Seller's Market (PDF) "The numbers, of course, do not include some of the most lucrative areas for senior finance executives: restricted stock grants, options or long-term incentives. If you look at the entire package, Equilar Inc., a compensation research firm in San Mateo, Calif., puts the median CFO pay package in 2006 at $5,676,163, 9.9% higher than in 2005."

Chicago Sun-Times, May 14, 2007 What's in CEOs' wallets? (PDF) "A snapshot of CEO pay at companies based in Chicago or with significant presences here shows pay-for-performance is the latest hot topic, but the pay that follows the performance is still amazing. The data were compiled by Equilar, a San Mateo, Calif., research firm that specializes in executive compensation[.]"

Palm Beach Post, May 13, 2007 Executives' pay dips slightly, maybe (PDF) "By contrast, a New York Times report on CEO pay at 200 large companies valued options when they were given to executives, not when they were exercised. Its story, based on a study by California-based Equilar Inc., found CEO pay rose 9.8 percent from 2005 to 2006 at companies that reported under the new SEC disclosure rules."

Reuters, May 11, 2007 Lifting the Lid: Conrad Black trial casts harsh light on boards (PDF) "Directors generally have become more vigilant and tend to serve on fewer boards. But they also get paid more for the increased demands on their time, their expertise, and their exposure to liability if things go wrong, governance experts said. The median annual compensation paid directors at 300 U.S. companies with at least $1 billion in revenues was $150,370 in 2006, up 7 percent from 2005, according to Equilar Inc. of San Mateo, California, which tracks executive salaries."

BusinessWeek, May 10, 2007 The Elite Circle of $1 CEOs (PDF) "In an era of skyrocketing CEO pay and growing shareholder angst about it, a handful of chief executives are opting to draw a $1 paycheck or none at all. Seven CEOs in the Standard & Poor's 500-stock index were paid $1 or less in 2006, along with eight smaller companies, according to executive compensation research firm Equilar."

Detroit Free Press, May 06, 2007 Pay climbs for auto execs (PDF) "Executive pay in the auto industry was in line with pay at other public companies, according to data compiled by Equilar Inc., a California-based firm that specializes in executive compensation analysis. Looking at just the CEOs, usually the highest-paid executives, Equilar found a median CEO compensation for the auto industry of $7.1 million in 2006, compared to a median CEO pay of $8.5 million for public companies in the Standard & Poor's 500 index."

Detroit Free Press, May 06, 2007 Overhaul means more details on pay (PDF) "'In general, the SEC is trying to improve transparency and shed more light on a lot of the things that might have been called stealth wealth in the past,' said Alexander Cwirko-Godycki, a senior analyst with Equilar Inc., a San Mateo, Calif.-based firm that specializes in analyzing data on executive compensation."

The New York Times, May 04, 2007 Verizon Vote on Pay Levels to Be Decided in a Recount (PDF) "Mr. Seidenberg received more than $20 million in compensation last year, an 11 percent increase from 2005, according to Equilar Inc., a compensation research firm in San Mateo, Calif. Verizon's shares jumped 28 percent in 2006, but in previous years the shares languished even as Mr. Seidenberg's pay rose."

Compliance Week, May 01, 2007 An Outside Job: External CEO Hires Paid More (PDF) "According to compensation research firm Equilar, external CEO hires received median total direct compensation of roughly $8.9 million in 2005 - a 13.2 percent premium over the median pay for CEOs in place for at least two years. The median total direct compensation for CEOs promoted from within was about $5.8 million, 26.4 percent less than the median for CEOs in place for at least two years."

CNBC, May 01, 2007 'Outside' CEOs Paid More than Top Execs Promoted from Within (PDF) "A survey of CEO pay at 452 large companies found the pay of executives hired from outside is 20% higher than top officers promoted from within, CNBC's Mary Thompson reported. Equilar, a compensation research firm, found that the median compensation of an 'outside' CEO was $8.9 million in 2005, compared with $5.8 million for CEO promoted from within."

Denver Business Journal, April 27, 2007 Despite Nacchio verdict, stock options attractive (PDF) "A survey conducted by Equilar Inc. for The New York Times shows that pay for the average CEO increased 9.8 percent from 2005 to 2006 in companies that reported under the Security and Exchange Commission's new disclosure rules. Companies that reported under the older, less stringent rules reported an average increase of 7 percent for CEOs during the same time frame."

Associated Press, April 27, 2007 CEOs get paid lots, but their companies still pay some of their taxes (PDF) "New disclosure rules in corporate proxy statements are shining a bright light on the big money going toward what's known as tax "gross ups." Almost two-thirds of Fortune 100 companies disclosed such taxes were paid for executives in 2006, up dramatically from the 35 percent revealing such information just two years ago, according to compensation research firm Equilar Inc."

The Wall Street Journal, April 25, 2007 KKR's Boots Bid Shows Power Of Insiders in U.K. Buyout Deals (PDF) "The full numbers for 2006 aren't available yet, but the average 2005 income for the top 25 bosses of U.S. companies was $75 million. That may sound huge to the average worker, but it is almost mediocre in the hedge-fund world. The 2006 numbers will be higher, but consultants Equilar expect only a 6% increase in the average reward for the chiefs of the top 500 companies."

Financial Week, April 23, 2007 CFOs suffering from pay envy (PDF) "Data prepared for Financialweek by Equilar Inc. shows that median total compensation for CFOs at S&P 500 companies rose substantially after SarbOx was passed but declined in the last two years. Median CFO pay fell from $2.69 million in 2004, or 36.1% of CEO pay, to $2.61 million last year, or 32.2%."

BusinessWeek, April 23, 2007 Up Front, Exec Comp: Dollar-A-Year (Or Less) Men (PDF) "Below, a list from executive compensation research firm Equilar of CEOs in the Standard & Poor's 500-stock index in 2006 who were paid $1 or less, according to the most recent proxy. The list doesn't include John Mackey of Whole Foods Market, who voluntarily lowered his salary to $1 starting Jan 1, 2007."

Bloomberg, April 18, 2007 Investors Do Better Than the Chiefs for a Change CEOs (PDF) "Total pay in 2006 includes: base salary; bonus; my estimate for the present value at grant of option grants made in 2006; the value of free share grants made in 2006, measured at the time of the grant; the company's estimate for the present value of future payouts under performance-based long-term incentive plans; and miscellaneous compensation. Data were derived from Equilar Inc. and ..."

Pensions & Investments, April 18, 2007 S&P 500 chief execs' pay rises 6% in 2006 (PDF) "CEOs of S&P 500 companies received a median total compensation of $8.5 million in 2006, up 6% from 2005, said David Chun, CEO of Equilar, a research firm that analyzes executive compensation and corporation governance trends. The median accumulated pension value was $6.7 million, and the median deferred compensation balance was $3.7 million."

The New York Times, April 17, 2007 Deal to Make Sallie Mae a Big Debtor (PDF) "It is also a chance for Sallie Mae executives to cash out. Albert L. Lord, Sallie Mae's chairman, took home pay worth more than $228 million before stepping down in 2005, according to an Equilar analysis. Its current chief executive, Thomas J. Fitzpatrick, has accumulated nearly $180 million in total compensation."

Agenda Magazine, April 16, 2007 Study Quantifies Price of Poor Succession Planning And Hiring Outside CEOs (PDF) "The Equilar study shows that the biggest contributor to the discrepancy in pay between outside hires and inside hires is stock awards. The median restricted stock award value was $2.6 million for external hires and $1 million for internal hires in 2005. The median stock option award value for external hires was $4.8 million and for internal hires it was $2.8 million."

CBNC, April 11, 2007 CEO Pay Adds Confusion to Proxies "Equilar CEO David Chun, who analyzes executive pay, expects the SEC to tweak the guidelines for next year. 'I think if they took more of a tabular approach to certain sections or a term sheet approach, that would certainly make it much more digestible and allow investors to hone in on key elements one needs to focus on,' Chun said."

The New York Times, April 09, 2007 More Nuggets on Pay From Proxy Filings (PDF) "Ray R. Irani, Occidental Petroleum's chairman and chief executive, is so far the highest paid corporate chief whose compensation package was tallied under the new rules. His total pay was about $52.1 million last year, according to an analysis by Equilar, the executive compensation research firm. But that was just the amount that Occidental's board awarded him last year."

The New York Times, April 08, 2007 More Pieces. Still a Puzzle. (PDF) "The typical chief executive at a big company was paid about $10.1 million, up 9.8 percent from 2005, according to a survey by Equilar Inc., an executive compensation research firm based in San Mateo, Calif. Equilar's analysis is based on the compensation awarded to chief executives at 150 of the biggest companies, as ranked by revenue."

The New York Times, April 08, 2007 Quietly, Retail Executives Move Into Top Paydays (PDF) "But an analysis prepared for Sunday Business by Equilar, an executive compensation research firm, shows that the paychecks sent to chief executives of several retail and fashion companies are among the richest in American business. And few are fatter than Mr. Frankfort's."

The New York Times, April 08, 2007 Pressing for Independent Advice From Consultants (PDF) "For more than three decades, Jeffrey S. Hyman advised companies on executive pay packages for Hewitt Associates, one of the country's largest providers of compensation consulting and other corporate services." (Please see graphic for Equilar, Inc. data.)

The New York Times, April 08, 2007 Calculating the Pay Figures (PDF) "To measure executive compensation, Sunday Business studied 200 large public companies that filed proxies by March 31, 2007, for last year. Equilar Inc., an executive compensation research firm, compiled and analyzed the data from corporate filings."

The New York Times, April 04, 2007 For Advice on Pay, the New Money Turns to Wall Street (PDF) "On Wall Street in 2006, a typical chief executive of a big investment bank took home about $30 million, according to an analysis by Equilar, a compensation consulting company. Last year, some top deal makers might have received $20 million to $25 million."

Associated Press , March 30, 2007 Proxies Fall Short on Pay (PDF) "'The number in the summary table is the compensation cost recognized by the company, but it isn't how the (board's) compensation committee was thinking about the pay package granted to the executive that year,' said Alexander Cwirko-Godycki, senior analyst at compensation research firm Equilar Inc. in San Mateo, Calif. 'That's where there is a disconnect.'"

Associated Press , March 30, 2007 Scrutiny compels companies to cut perks (PDF) "In the past, the largest perk packages added hundreds of thousands of dollars to executives’ total pay. Now, recent regulatory filings show that companies including Fannie Mae and Sunoco Inc. are cutting back. Equilar Inc., an executive compensation research firm, sent out a note late Thursday detailing nixed perks."

Compliance Week, March 27, 2007 Expensing Rule Drives Stock Awards (PDF) "An analysis of aggregate equity awards at Fortune 1000 companies provided to Compliance Week by research firm Equilar Inc., shows that the median number of stock options granted per company plummeted 40 percent from fiscal 2003 to 2005, which was the year that Financial Accounting Standard 123(R) took effect. 'There's a clear movement away from options to full value shares, either restricted stock or restricted stock units,' says Alexander Cwirko-Godycki, senior analyst at Equilar."

The New York Times, March 25, 2007 Making Managers Pay, Literally (PDF) "Not surprising, then, that they are showing up in more proxy filings this year. In November, Equilar, an executive compensation research firm in San Mateo, Calif., looked for pay recovery provisions at the 100 largest companies in the United States. It found that about 18 percent of them had disclosed such policies for the previous year. Not all of those 100 companies have filed their proxies yet for 2007. But among the 50 that have, Equilar found 44 percent with clawback provisions."

Crain's New York, March 23, 2007 Avon CEO gets a raise as company struggles (PDF) "Avon awarded Ms. Jung $13.3 million in total compensation last year, the company said Friday. That's about $2 million more than she was paid in 2005, according to Equilar data. Avon's compensation committee, which is chaired by Time Inc. CEO Ann Moore, says Ms. Jung was paid about $1.4 million in salary last year, granted $4.2 million worth of stock, and awarded $4 million worth of stock options."

Agenda Magazine, March 19, 2007 Corning Reveals Comp Surveys (PDF) "The compensation committee explains that the company is so diverse it claims it lacks "pure peer companies" that it has to take extra measures to benchmark compensation. It also uses 'proxy data' obtained from compensation research firm Equilar and 'several compensation consulting firms.'"

Pacific Business News, March 09, 2007 Women make slow progress on corporate boards (PDF) "While companies are making progress in recruiting women directors, women have been filling only a fraction of the seats, according to Equilar Inc., a compensation research firm that did the study for PBN using the latest Securities & Exchange Commission filings issued by the 10 Hawaii-based companies."

Compliance Week, March 06, 2007 New Proxy Disclosure Best Practices Emerge (PDF) "A look at the first batch of preliminary and final proxy statements that have trickled into the Securities and Exchange Commission shows that, while the disclosure details vary widely from company to company, this year’s filings all have one thing in common: volume. 'At face value, this year’s proxies are clearly bigger and better,” says Alexander Cwirko-Godycki, senior analyst at compensation research firm Equilar.'"

Agenda Magazine, March 5, 2007 Wrigley Specifies Accounting Rule Its Comp Members Chew On (PDF) "FASB 123(R) has been in effect for a couple of years. According to Alexander Cwirko-Godycki, a senior analyst at Equilar, more companies are making specific mention of the rule in this year's proxies, however. That's because the Compensation Disclosure and Analysis required by the SEC's new filing rules lends itself to those types of disclosures."

CNBC, February 26, 2007 Furor Rages As Investors Pay Executive Taxes "Death and taxes are the two universal fates, right? Well, the latter may not hold true for certain executives, whose tax bills are footed by shareholders. On "Morning Call," two compensation experts debated the appropriateness of such supposed free rides." (Please see video clip and graphic for Equilar, Inc. data.)

Seattle Post-Intelligencer, February 26, 2007 Top execs rake in the perks (PDF) "At Fortune 100 companies, which include Microsoft but not Amazon, the median cost for personal and home security for CEOs in 2005 was $37,194, according to Equilar Inc., a California-based compensation-research firm."

Seattle Post-Intelligencer, February 26, 2007 Being first in line has its perks for Starbucks boss (PDF) "In 2005, when Starbucks provided Schultz with nearly $266,000 in free travel it was more than double the median value ($109,000) of aircraft perks provided to chief executives at Fortune 100 companies,according to Equilar Inc., a compensation research firm in San Mateo, Calif."

Agenda Magazine, February 26, 2007 Compensation Digest (PDF) "OfficeMax is the most recent in a line of companies to end stock option grants for directors. Stock option grants for directors declined from roughly 65% of S&P 500 companies in 2003 to just over 50% in 2005, according to Equilar."

Bureau of National Affairs, February 22, 2007 Early Adopters of CD&As Presenting Longer, Detailed Disclosure, Analysts Find (PDF) "Early adopters of the Securities and Exchange Commission's disclosure rules are filing longer, more comprehensive statements, many exceeding 20 pages in length, according to the compensation research firm Equilar Inc. Equilar senior analyst Alexander Cwirko-Godycki told BNA on Feb. 22 that, as expected, 'the size and quality of disclosure is significantly bigger and better than previous proxy disclosure.'"

BusinessWeek, February 15, 2007 A Better Look At The Boss's Pay (PDF) "Even so, in a study of 2005 proxies filed by the 100 largest U.S. companies, compensation research firm Equilar Inc. found that the median value of personal travel on corporate jets rose 21.7%, to $109,000, while execs got roughly $37,000 to safeguard themselves, up 69%."

Compliance Week, February 06, 2007 How To Say What You Mean On Pay "Alexander Cwirko-Godycki, senior analyst at compensation research firm Equilar, says the most commonly used measures relate to total shareholder return, earnings per share, revenue, and net income—but they are only the tip of the iceberg. 'There are hundreds of metrics companies use,' he says. 'Different metrics guide people in different directions."

Associated Press, February 02, 2007 Aramark CEO gets $1 billion reward from latest buyout (PDF) "Mr. Neubauer's compensation has not notably outpaced other CEOs. From fiscal 1991 to fiscal 2005, he collected $27.8 million total in salary and bonuses, and exercised stock options valued at $37.87 million, according to Equilar Inc., a compensation research firm in San Mateo, Calif."

The New York Times, February 01, 2007 Dell Chief Is Replaced by Founder (PDF) "Mr. Rollins is not entitled to severance or a pension plan. Still, he will walk away with stock options worth about $30 million that he earned during his tenure, according to earlier company filings. According to Equilar, which analyzes executive pay, Mr. Rollins earned $42 million in total direct compensation as the chief executive."

Dow Jones Newswire, February 01, 2007 Rollins' Stock Options Down With Dell Stock's Decline (PDF) "Based the company's latest proxy statement, filed in June, Rollins had 12.4 million in exercisable stock options worth close to $94 million. Based on Wednesday's closing price of $24 a share, Rollins' stock options may be worth closer to $31 million, according to number crunching from Equilar Inc., a compensation analysis firm in San Mateo, Calif."

San Jose Mercury News, January 29, 2007 Aid for employees could include repriced options or bonus checks (PDF) "In December, at least 10 Silicon Valley companies raced to reprice 4.2 million tainted options to spare 35 executives and directors from the new taxes, according to Equilar, a San Mateo firm that tracks executive compensation. They included five of the 50 biggest companies here: Nvidia, KLA-Tencor, Atmel, VeriSign and BEA Systems."

The Charlotte Observer, January 28, 2007 Home Depot dives as Lowe's thrives (PDF) "According to Home Depot's most recent proxy filing, Nardelli's 2005 pay totaled $31.7 million plus stock options that compensation firm Equilar valued at $10.6 million, using a standardized calculation. Niblock's package was worth $9.6 million plus stock options Equilar valued at $1.7 million."

Bloomberg, January 19, 2007 Worker Ire Grows, GDP Share Shrinks as Profits Boom (PDF) "CEOs at the 10 companies comprising the S&P Aerospace and Defense Index, including Raytheon, fare better. Their cash compensation, consisting of salary and bonus and excluding stock, grew at a 21 percent annual rate, to a median of $4.17 million in 2005 from $1.95 million in 2001, says San Mateo, California-based pay consultant Equilar Inc."

Agenda Magazine, January 16, 2007 General Mills Curtails CEO's Free Use of Corporate Jet (PDF) "In fact, the reported median value of Fortune 100 chief executive aircraft perquisites increased by almost 22% from 2004 to 2005 — from approximately $89,000 to $109,000, Equilar’s 2006 Benefits & Perquisites Report shows. The report notes, however, that the increase in the value of CEO aircraft perquisites is partially driven by a recent shift in the methods used to value the cost of air travel."

Agenda Magazine, January 16, 2007 Boards Rush to Change Deferred Comp Plans (PDF) "Numbers back up the connection between reining in potential deferred compensation payouts and disclosure. According to Equilar’s 2006 CEO Benefits & Perquisites Report, Fortune 100 CEOs received a median of approximately $61,000 in earnings on deferred compensation, 'a large drop-off from the median value of approximately $115,000 reported in 2004.' Meanwhile, more companies reported the actual value of their CEO’s compensation in 2005 than they did in 2004: 20 compared to 16."

The New York Times, January 12, 2007 Hire by the Contract Now, Risk a Big Regret Later (PDF) "Today, 55 chief executives at the biggest 100 companies in the United States have signed an employment or severance contract, according to an analysis by Equilar, a compensation research firm in San Mateo, Calif. Most ordinary professionals — including managers just two or three layers down in the organization — are typically not given any guarantees."

The New York Times, January 04, 2007 G.E. Magic Can Fade, After G.E. (PDF) "When boards of directors go shopping for a new chief executive, their first stop is often General Electric. After all, its disciplined approach to management, the “G.E. Way,” has been chronicled in a shelf’s worth of books, including “Winning,” by its former chief executive, John F. Welch Jr., who gets much of the credit for his system of building a deep bench of talent. " (Please see graphic for Equilar, Inc. data.)

The Washington Post, January 04, 2007 Seeing Red Over a Golden Parachute (PDF) "That has prompted some shareholders to question the size of Nardelli's compensation. Last year, he received more than $30 million in compensation and stock options. During his six years at the company, he earned about $125.57 million in annual salary, bonuses, stocks and other payments, according to Equilar, a compensation research firm in San Mateo, Calif."