Outgoing UPS Chief got 7.8% raise in 2007 to USD 4.5 Million
The former Chairman and Chief Executive of UPS Inc., Mike Eskew, received total compensation valued at USD 4.5 million in 2007, a 7.8 percent increase from the year before, according to a regulatory filing Monday by the world’s largest shipping carrier.
According to an analysis of the filing with the Securities and Exchange Commission, Eskew was granted a salary of USD 1,026,000, a bonus of USD 43,000 and a performance-based bonus of USD 197,800.
He received all other compensation of USD 43,019, including USD 2,000 for a charitable contribution match, USD 6,750 for 401(k) matching contributions, USD 5,036 for life insurance premiums, USD 17,583 for pension benefits restoration plan rollover and USD 11,650 for financial planning services.
Eskew also received stock and option awards the company valued at USD 3,142,645 on the days they were granted.
He did not receive above-market or preferential earnings on deferred compensation.
The total compensation of USD 4,452,464 compares with the USD 4,130,657 he was granted in 2006.
The Associated Press’s total pay calculations 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 they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.
Atlanta-based UPS’s annual meeting will be held May 8 in Wilmington, Del. The company, also known as United Parcel Service, announced in October that Eskew would retire at the end of 2007 after six years as CEO and more than three decades with the company. He has been replaced by Scott Davis, who was the company’s chief financial officer before taking the top post.
The former chairman and chief executive of UPS Inc., Mike Eskew, received total compensation valued at USD 4.5 million in 2007, a 7.8 percent increase from the year before, according to a regulatory filing Monday by the world’s largest shipping carrier.
According to an analysis of the filing with the Securities and Exchange Commission, Eskew was granted a salary of USD 1,026,000, a bonus of USD 43,000 and a performance-based bonus of USD 197,800.
He received all other compensation of USD 43,019, including USD 2,000 for a charitable contribution match, USD 6,750 for 401(k) matching contributions, USD 5,036 for life insurance premiums, USD 17,583 for pension benefits restoration plan rollover and USD 11,650 for financial planning services.
Eskew also received stock and option awards the company valued at USD 3,142,645 on the days they were granted.
He did not receive above-market or preferential earnings on deferred compensation.
The total compensation of USD 4,452,464 compares with the USD 4,130,657 he was granted in 2006.
The Associated Press’s total pay calculations 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 they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.
Atlanta-based UPS’s annual meeting will be held May 8 in Wilmington, Del. The company, also known as United Parcel Service, announced in October that Eskew would retire at the end of 2007 after six years as CEO and more than three decades with the company. He has been replaced by Scott Davis, who was the company’s chief financial officer before taking the top post.
