There's no question that many executives at companies recently beset by allegations of improper accounting and insider trading made small fortunes in the years before those problems became public. And if you're upset about skyrocketing executive pay in general, consider this: In many cases, those outsize bonuses and stock grant awards were based on big earnings gains that later proved fictional. Yet only rarely do companies get much of that dough back. For a reminder of just how big those sums were, we asked pay consultants The Delves Group to tally how much key executives at some troubled companies pulled in from salaries, bonuses, and options exercises in the five years before the scandals arose. For good measure, we've also included the sizable remaining equity holdings they had when trouble hit. It was nice work -- while it lasted.
|Executives||Base Salary*||Incentive Pay*||Net Value of Exercised Options*||Value of Remaining Equity Holdings**|
All figures in millions of dollars
*All figures reflect cumulative 5-year totals earned from 1997-2001, with the exception of Lay and Skilling. Their totals cover 1996-2000.
** Reflects executives' remaining beneficial ownership with the company, as of 2001 year end filings (or closest available date), except for Lay and Skilling. Their figures reflect 2000 year end filings. Values reflect stock ownership, exercisable options, and options exercisable within 60 to 90 days of filing from time report was filed, and then current stock price.
Data: The Delves Group, company reports