DevelopmentCrossing.com
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Development Crossing
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Excerpted from the website:
- Occidental's Irani gets more than $400 million in 2006
- Ray Irani, chairman and chief executive of Occidental Petroleum Corporation, took home more than $400 million in compensation last year, one of the largest single-year payouts in US corporate history. $270.2 million of the payout was from the exercise of options awarded from 1997 to 2006 (a total of more than 7.1 million shares) and $93.3 million was in stock and dividends from a deferred stock program. According to the filing, Mr. Irani's salary in 2006 was $1.3 million, while his cash bonus was $1.4 million, but stock and option awards and other benefits lifted his 2006 compensation to $55.6 million.
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