Reynolds' CEO Got $7.9M in 2007

Source from:  Monday March 24, By Ieva M. Augstums, AP Business Writer  03/25/2008

Reynolds American CEO Got Compensation Valued at More Than $7.9 Million in 2007 Reynolds American Inc.'s chairman, chief executive and president, Susan M. Ivey, received compensation the nation's second biggest tobacco company valued at more than $7.9 million in 2007 -- about 24 percent more than in 2006, a regulatory filing Monday showed. The higher compensation came as the maker of brands like Camel, Kool and Pall Mall posted an 8.3 percent increase in profit on a 6 percent rise in sales in 2007. Ivey, 49, received $1.19 million in salary, more than $4.2 million in non-equity compensation and $231,241 in other compensation. That included $38,331 for personal use of corporate aircraft and $79,000 in cash instead of perks, according to the Winston-Salem-based tobacco company's filing with the Securities and Exchange Commission. She also got stock awards the company valued at roughly $2.25 million on the day they were granted. In 2006, Ivey received $1.13 million in salary in a compensation packaged valued at more than $6.4 million. The Associated Press calculations of total pay include executives' salary, bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the value of pension benefits, and they can differ from the totals companies list in the summary compensation table of proxy statements. Ivey, who has headed the company since January 2004, also became vested in 23,838 shares in stock valued by the company at more than $1.57 million. For 2007, Reynolds American reported earnings of $1.31 billion, or $4.43 per share, compared with $1.21 billion, or $4.10 per share, in 2006. Revenue rose to $9.02 billion. Enditem