Express Employees Get 1% Raises while FedEx Officers Get 3.5% Raise
Although the admission by FedEx in its annual report that it has received a subpoena from the Dept. of Justice in its investigation into price fixing in the admission of fuel surcharges has made the headlines, the company also filed a quarterly report (Form 8-K) with the SEC that laid out the pay and bonuses for the 5 highest executive officers.
The money quote is: “Each named executive officer’s annual base salary was increased by 3.5%.” But of course, the galling compensation package doesn’t stop with just salary.
For example, let’s look at Fred Smith’s basic package - but remember this doesn’t include stock options or other pay that are disclosed in the annual proxy:
Annual Salary = $1,399,848 (with his 3.5% raise)
Annual Bonus = $2,679,147
Incentive Bonus = $3,375,000
2006 SALARY PLUS BONUS = $7,453,995
Continue reading for information on the pay and bonus packages for David Bronczek, Alan Graf, Dan Sullivan and T. Michael Glenn.
Read More Go to: www.fedexwatch.com
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