Capital One CEO pay $17.1 mln, realizes ($54.84 million in) options

[UpInArms]

Source: Reuters

NEW YORK, March 11 (Reuters) - Capital One Financial Corp (COF.N: Quote, Profile, Research) Chief Executive Richard Fairbank was awarded about $17.07 million in compensation in 2007, 6 percent less than a year earlier, and realized $73.1 million from the exercise of stock options and vesting of stock, the company said on Tuesday.

In a proxy filing with the U.S. Securities and Exchange Commission, Capital One said Fairbank was awarded options valued at $17 million as of the grant date, plus other compensation valued at $69,585.

Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, and incentives and perks. Fairbank's compensation was about $18.15 million a year earlier, Capital One has said.

According to the proxy filing, Fairbank also realized $54.84 million from the exercise of 934,359 stock options. Capital One said Fairbank exercised the options from May 1 to Aug 31 under a pre-arranged trading plan, and that the options were set to expire on Dec 17.

Read more: http://www.reuters.com/article/bondsNews/idUSN1162963120080311

---

See how well loan sharks make out?

[Joanne98]

1. k&r

[Captain Angry]

2. Yeah, I really hate people who force customers to buy stuff they don't need and can't pay for.

Yeah, those people suck.

Oh, wait...


The outrage is that this guy was in charge as the company's stock fell 50% and he still was given a paycheck and stock options. Capital One's investors should sack the board of directors for letting him walk with that kind of compensation when the company's stock fell so hard.

[Riktor]

9. Severance

Many companies avoid firing chief executives due to the sheer cost of their severance packages. I'm currently working at a company with one foot in the grave because they keep paying their Sales and Marketing VP $15,000 a month, and the guy hasn't made us one single profitable sale since he was first hired over two years ago. He's put the company $4 million in the hole (this is a small company, mind you), while he makes $180,000 a year, plus commission, and the company won't touch him because firing him will cost MORE than keeping him on until his contract expires.

[Hugin]

3. I paid off my Capital One credit card with my...

DU Credit Card. :7


*ducks*

[DemocratInSoCal]

4. What's In Your Wallet??

A HELL OF A LOT LESS THAN IS IN HIS.

Credit cards are for us losers. Guys like him probably carry Cash.

[madmom]

8. What's in my wallet?.. NOT a capital one credit card!

[laylah]

5. HHHMMMMMmmmmmmm!

Wonder what's in HIS wallet!

[happygoluckytoyou]

6. ONLY 20% interest.... the man is BRILLIANT...

he should get 60 million AND a blow job

[Deny and Shred]

7. I don't have access to a Vickers file any more, but insider payouts

are always interesting reading. If anyone knows of a site or somesuch that has insider trading info, please, let me know.
Credit card CEO pulls in roughly $100 million annually, all told, wow.

CEO/Officer payouts are soooo out of whack these days. It is poetry in motion... the CEO moves into ARMs and mortgage-backed securities a couple years ago, makes hundreds of millions ON PAPER, collects his massive bonus/stock payout/restricted stock-short vesting period - payout THEN,...
...and now, a while later, the s**t hits the credit swap fan, and the CEO KEEPS it all???

Rewarded for investing heavily in a time bomb? Absolutely. All hail short-term time horizons. THAT'S what makes America great !!

God bless America?

[Thepricebreaker]

10. Hey people get paid 50+ million to hit a fucking baseball.. Just as stupid..