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Feature Analyses: The September 2007 issue of Executive Compensation Trends examines two areas of executive pay where transparency in disclosure has improved considerably in recent years. First, we cover the disclosure of Rule 10b5-1 stock trading plans in Form-4 filings and then move on to discussions of clawback policies in recent proxies.
Newsletter Subscription Notice: Access to the full content of Equilar newsletters is available for Equilar database subscribers only through a password protected website. If you are not an Equilar database subscriber and wish to learn more about Equilar's subscription plans, please send an email to info@equilar.com or call (877) 441-6090.
Research Questions: Please feel free to contact our Research Team at (877) 441-6090 or info@equilar.com, if you have any questions or comments, or if you would like to learn about our Custom Research Services. |
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 Stock Trading Plans |
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Fortune 500 Executive 10b5-1 Trading Plan Trends |
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The disclosure of 10b5-1 trading plans has increased in recent years. With greater SEC disclosure and increased scrutiny of insider trading activity, 10b5-1 plans allow executives, directors and major shareholders to diversify their equity holdings in a systematic manner and reduce the risk of potential insider trading violations.
[Read Full Article +]
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| Clawback Policies |
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An analysis of compensation recovery policies at Fortune 100 companies |
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Compensation recovery policies, often referred to as clawbacks, have become an increasingly common component of corporate governance strategies at many Fortune 100 companies. Compensation recovery policies typically provide companies with the ability to recoup incentive-based compensation in the event of a financial restatement.
[Read Full Article +]
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Equilar will appear at the following conferences in September. To learn more, click on the links below to view registration and event details. For a complete list of future Equilar events, please visit the Presentations section of our website.
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NASPP Annual Conference
Hosted by NASPP
October 9-12, 2007
San Francisco, CA
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Florida Directors' Institute
Hosted by University of Tampa
November 2, 2007
Tampa, FL
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Bank Executive & Board Compensation
Hosted by Bank Director
November 13-14, 2007
Las Colinas, TX
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Directors' Summit
Hosted by University of Wisconsin
November 15-16, 2007
Madison, WI
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Equilar's research appeared in numerous articles in late August and September. To learn more, click on the selected links below. For a complete list of articles featuring Equilar research, visit the News & Publications section of our website.
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CEO exit packages are out of control
September 21, 2007
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"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."
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Compensation growth for CEO's outpaced inflation, survey finds
September 19, 2007
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"The Equilar survey measured 194 Standard & Poor's 500 companies that had chief executives in place for at least two years. But even though business executives' salaries were flat in 2006, nonprofit leaders aren't necessarily closing the gap on their peers in the for-profit world."
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Nonprofit execs' pay raises outpacing for-profit counterparts
September 19, 2007
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"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."
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Roth Is Highest in Option Rewards, Semel Lowest
September 19, 2007
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"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."
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The highest-paid CFOs
September 17, 2007
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"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.
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Executive Pay Faces More Scrutiny
September 6, 2007
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"'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.'"
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Parsons, 34 Chiefs Perform Without Monster Pay
September 5, 2007
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"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."
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CEOs Get High-Priced Financial Planning
September 5, 2007
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"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."
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Looking Out for No. 1
September 4, 2007
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"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."
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CEO perk grew 16% in 2006
September 4, 2007
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"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.
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Directors: Exec Pay Needs Closer Tie to Performance
September 3, 2007
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"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.
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Reeling In the College-Bound
September 2, 2007
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"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."
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Google CFO Reyes Rides Into Sunset
August 29, 2007
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"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."
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| Members of the press who are interested in obtaining Equilar research for their stories should feel free to contact Equilar at press@equilar.com. |
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To cite Equilar research in your story, blog, presentation, or newsletter:
- Please refer to Equilar as "Equilar, Inc., an executive compensation research firm" with a hyperlink to our homepage at http://www.equilar.com/.
- To cite an entire article, please refer to individual articles for further instructions.
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2007 Chief HR Compensation Trends Report
This report analyzes year-over-year compensation trends for 161 publicly named Russell 3000 Chief HR Executives and compares these trends across several factors, such as position, market index, and number of company employees. To learn more, please click the following link:
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2007 Compensation Committee Trends Report
This report analyzes pay trends for Compensation and Audit Committee members at S&P 1500 companies, examing such factors as position, tenure and market index. To learn more, please click the following link:
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New Equilar CEO Blog
Insights on Executive Compensation Disclosure Trends
Equilar CEO David Chun shares interesting compensation trends and practices seen in the marketplace while offering independent and objective analysis.
To read more of his highlights, please click the following link:
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CustomInsight
Equilar's Custom Research Database: Coming Soon!
CustomInsight provides instant access to an archive of Equilar's Custom Research projects, allowing clients to have specific data ready at their fingertips. These projects can also be customized further to address your unique needs. For further information, contact your account executive.
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Equilar Has Moved...
Equilar, Inc. is pleased to announce that we have moved to a new location effective July 21, 2007. Please take a moment to update your records accordingly.
NEW ADDRESS:
303 Twin Dolphin Drive
Suite 201
Redwood Shores, CA 94065
Toll Free: (877) 441-6090
Fax: (650) 802-8591
TEAM CONTACTS:
Direct phone numbers to reach Equilar team members will not be changing. For a directory of phone numbers for our current employees, please feel free to call our main line at (650) 286-4512.
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Equilar Forms Strategic Alliance with HR Policy Association
HR Policy Association and Equilar recently announced the formation of a strategic alliance to provide HR Policy Association members with the benefit of information, analyses and benchmarking studies on executive and director compensation. To learn more, please read the press release below.
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MaterialInsight: Equilar's Online 8-K Database
MaterialInsight, the newest addition to the Equilar's award-winning suite of executive and board compensation solutions, provides access to compensation and corporate governance data drawn directly from 8-K filings. To learn more, please click on the following link:
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Careers at Equilar
Equilar is looking for strong
candidates to fill key positions across all departments. To learn more about opportunities at Equilar, please visit our
careers page by clicking on the link below:
Equilar Careers Page |
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ongoing effort to improve the quality of our products and
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CONTACT EQUILAR
Tell us what you think! The Equilar newsletter team would love to hear your suggestions and ideas about research that you would like to see in our newsletter. For article suggestions, questions, or general comments, please e-mail Alexander Cwirko-Godycki at acg@equilar.com. For inquiries about our on-line database products or custom research services, please call (877) 441-6090 or e-mail info@equilar.com. Please also visit our Web site at http://www.equilar.com/ for more information. We look forward to assisting you with your compensation analysis needs.
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DISCLAIMER
The information and analysis in this e-mail and attachments are intended to be for informational purposes only. The analysis is based on information taken from publicly filed documents and we do not represent to its accuracy. Equilar, Inc. assumes no liability for the use or interpretation of information contained herein. This publication is provided "as is" without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, or non-infringement of third party rights.
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