American Express CEO awarded $50.1 mln in 2007

[UpInArms]

Source: Reuters

NEW YORK, Feb 25 (Reuters) - American Express Co (AXP.N: Quote, Profile, Research), the credit card and travel services company, said on Monday Chief Executive Kenneth Chenault was awarded about $50.1 million in compensation in 2007.

According to the company's proxy filing with the U.S. Securities and Exchange Commission, Chenault was awarded a $1.24 million salary, a $6 million bonus, $500,000 of non-equity incentive plan compensation, and $1.07 million of other compensation.

Chenault was also granted restricted stock units valued at $6 million as of the grant date, an additional restricted stock award valued at $2.07 million as of the grant date, and stock options valued at $33.24 million as of the grant date, the filing shows.

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Other compensation included such things as $323,844 for personal use of company aircraft, $126,992 for a home security system, dividend payouts, company contributions to defined contribution plans, and other items.

Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, and incentives and perks. Chenault, 56, has been New York-based American Express' chairman and chief executive since 2001.

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American Express shares fell 14 percent last year, compared with a 21 percent drop in the Standard & Poor's Financials Index . The company's shares have fallen 13 percent this year, and closed Monday up 15 cents at $45.21.

Read more: http://www.reuters.com/article/bondsNews/idUSN2528011020080225

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bet the shareholders wish they could have some of that :eyes: