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|Friday, September 01, 2006|
OUR ANNUAL RANKING OF THE 50 HIGHEST-PAID PUBLIC COMPANY CEOS IN OREGON
By Linda Steffen and Bill Smith
This year’s ranking of the highest-paid public company CEOs in Oregon saw total compensation fall 0.4%, in contrast to last year’s 17.7% increase. The drop was the result of a 33% decline in overall bonus amounts.
In 2005, CEOs on our list made on average $1.8 million, a $7,414 decrease from 2004. On average, there was a $5,084 increase in base pay, up 1.1 %, while bonus amounts fell by $134,807 to $285,275.
Five new companies made the list, while six of the firms from last year appointed new CEOs. PW Eagle (No. 23) had the highest-paid CEO out of the new companies, paying Jerry Duke approximately $1.1 million. Nike’s William Perez was the highest-paid CEO, earning approximately $16.5 million, the bulk of which consisted of stock options. Perez has since left the company.
The value of long-term incentives such as stock options, restricted stock, performance shares and cash long-term incentives increased an average of $111,370 (12.6%). Other compensation averaged $67,032, down $1,762 (2.6%) from 2004.
A CEO’s base-salary disclosure will remain the same under the new rules, while bonus disclosure will change slightly. If the bonus earned during the year cannot be measured until after the proxy filing, new rules require a current report to state the bonus value and the new total compensation amounts, rather than waiting until the next proxy filing to disclose the bonus amount.
New disclosure rules state that stock grants will include any full-value grant of shares, such as restricted stock or performance shares. Value of the stock grants will be calculated by taking the share price at grant and multiplying this by the number of shares granted (according to FAS123R). The number of years over which the shares are actually earned and vested will not affect the value, as the full amount of the grant will be reported in the year of grant.
Value of vested performance shares will no longer be captured within the table and only the value of the shares granted will appear in the year of grant. If these rules had been in place for the 2005 proxy season, a few CEOs in our list would have seen different values related to their performance shares. StanCorp Financial Group’s CEO, Eric Parsons, would have seen a $384,000 reduction if the new rules applied to the company’s 2005 proxy disclosure. StanCorp disclosed a value of $1.49 million for the performance shares that vested in 2005. Under the new rules, this figure would be replaced with a $1.06 million disclosure of the target value of performance shares granted in the year.
Thursday, May 29, 2014
BY JENNIFER MARGULIS
Don Gentry navigates Klamath Basin water rights.
Monday, July 14, 2014
BY VIVIAN MCINERNY | OB BLOGGER
Some people think Amazon’s winking eye logo is starting to look like a hoodwink.
Monday, June 16, 2014
The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.
Thursday, June 12, 2014
BY ANDREA DURBIN | OB GUEST BLOGGER
Last week, the Obama administration took an important and welcomed step in the effort to protect the health and well-being of all Oregonians by limiting carbon pollution from existing power plants.
Monday, June 30, 2014
Oregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.
Thursday, May 29, 2014
BY JONATHAN FROCHTZWAJG
For Far West Fibers, one of Oregon's largest and oldest mixed-recycling companies, garbage alchemy has long been big business.
Friday, June 27, 2014
BY JASON NORRIS | OB BLOGGER
Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.
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