cliaz Posted March 22, 2007 Share Posted March 22, 2007 Nice check out his salary: Verizon CEO Ivan Seidenberg received a total compensation valed at $20.2 million. Seidenberg was paid $2,100,000 in salary $4,252,500 in non-equity incentive compensation (whatever that means) $13,125018 in stock awards and $734,400 Man could you imagine making that much money in a year? He is a good guy for the most part. When we were starting up he kept us really informed on what he could and he had monthly all hands calls. As far as CEO goes his outward attitude is good. Quote Link to comment Share on other sites More sharing options...
xMRogers Posted March 22, 2007 Share Posted March 22, 2007 Verizon can absolutely positively blow me..... Quote Link to comment Share on other sites More sharing options...
Big Country Posted March 22, 2007 Share Posted March 22, 2007 Nice salary but not all that exorbitant for a person in his position at a company as large as Verizon. Quote Link to comment Share on other sites More sharing options...
cliaz Posted March 22, 2007 Author Share Posted March 22, 2007 Nice salary but not all that exorbitant for a person in his position at a company as large as Verizon. Yeah. I just want to know what $4,252,500 in non-equity incentive compensation means. Quote Link to comment Share on other sites More sharing options...
Big Country Posted March 22, 2007 Share Posted March 22, 2007 Yeah. I just want to know what $4,252,500 in non-equity incentive compensation means. Could be car allowance, use of corporate jet for personal use, security, cell phones, etc. I saw an article recently where I believe it was Coca-Cola required its top executives to use the company jets for personal travel for security reasons. Quote Link to comment Share on other sites More sharing options...
xMRogers Posted March 22, 2007 Share Posted March 22, 2007 Actually, that just sounds like a cash bonus to me (as opposed to a stock one) Quote Link to comment Share on other sites More sharing options...
Big Country Posted March 22, 2007 Share Posted March 22, 2007 Actually, that just sounds like a cash bonus to me (as opposed to a stock one) We'll need the more knowledeable financial types to weigh in, but the "non-equity" classification makes me think it is perks involved with the position that can't simply be "cashed" in. Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted March 22, 2007 Share Posted March 22, 2007 (edited) Yeah. I just want to know what $4,252,500 in non-equity incentive compensation means. Look on their 10-K www.sec.gov it has to be disclosed what it is. Quick look at their 10-K this is what I got. Sorry dont have time right now to read through more of it. Verizon Wireless Long-Term Incentive Plan The 2000 Verizon Wireless Long-Term Incentive Plan (the “Wireless Plan”) provides compensation opportunities to eligible employees and other participating affiliates of the Cellco Partnership, d.b.a. Verizon Wireless (the “Partnership”). The Wireless Plan provides rewards that are tied to the long-term performance of the Partnership. Under the Wireless Plan, VARs are granted to eligible employees. The aggregate number of VARs that may be issued under the Wireless Plan is approximately 343 million. VARs reflect the change in the value of the Partnership, as defined in the Wireless Plan, similar to stock options. Once VARs become vested, employees can exercise their VARs and receive a payment that is equal to the difference between the VAR price on the date of grant and the VAR price on the date of exercise, less applicable taxes. VARs are fully exercisable three years from the date of grant with a maximum term of 10 years. All VARs are granted at a price equal to the estimated fair value of the Partnership, as defined in the Wireless Plan, at the date of the grant. Edited March 22, 2007 by MrTed46 Quote Link to comment Share on other sites More sharing options...
cdrudge Posted March 22, 2007 Share Posted March 22, 2007 We'll need the more knowledeable financial types to weigh in, but the "non-equity" classification makes me think it is perks involved with the position that can't simply be "cashed" in.Equity incentives are things like stock options or other ownership of the company. You become part owner of the company in some manner. With non-equity incentive, it's not some form of ownership in the company. A cash bonus based on performance would be an example of a non-equity incentive. I'm not a tax attorney, but I believe things like a company car are not taxable compensation unless they are used for personal use. If the CEO flew on the company plane to Hawaii for business, it's "free". If he flew on it for a family vacation, Verizon is suppose to add the cash value as part of his income, but it wouldn't be non-equity incentives per se. Quote Link to comment Share on other sites More sharing options...
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