Sunday, September 5, 2004
72 in the $1 million club
1. Joel F. Gemunder
President and CEO, Omnicare Inc.
Age: 64.
2003 compensation: $25,342,593, up 175 percent from 2002.
Includes: Salary $1,254,167, bonuses of $2,089,749, restricted stock worth $14,167,756, options cashed in worth $7,502,120, stock dividends worth about $140,000, other annual compensation of $71,265, and all other compensation worth $117,536.
Options awarded: 279,854, with a current value of $7.3 million.
Value of stock owned: $73,810,603.
Value of unexercised options: $49,653,030.
Notes: A shift in compensation in 2003 meant more in restricted stock, which vests over seven years, and less in stock option grants compared to 2002.
2. Jim Zimmerman
Chairman, Federated Department Stores Inc. Retired in January.
Age: 60.
2003 compensation: $16,634,358, up 515 percent from 2002.
Includes: Salary $1,250,000, bonuses of $2,768,800, options cashed in worth $12,367,202, stock dividends worth about $40,000, other annual compensation of $203,297, and all other compensation worth $5,059.
Value of stock owned: $3,387,983.
Value of unexercised options: $3,277,125.
Notes: Federated advanced Zimmerman's pension eligibility by five years. He will collect more than $658,944 annually in pension; the company would not comment on how much more.
3. James E. Rogers
Chairman, President and CEO, Cinergy Corp.
Age: 56.
2003 compensation: $14,728,288, up 25 percent from 2002.
Includes: Salary $1,250,004, bonuses of $6,530,250, options cashed in worth $4,368,081, stock dividends worth about $1,350,000, other annual compensation of $66,126, and all other compensation worth $1,163,827.
Options awarded: 145,500, with a current value of $3.1 million.
Value of stock owned: $28,501,598.
Value of unexercised options: $8,132,598.
Notes: A new employment agreement for 2004 grants slow salary increases, and links more compensation to corporate performance. Rogers says he is Cinergy's largest individual shareholder.
4. George A. Schaefer Jr.
President and CEO, Fifth Third Bancorp
Age: 58.
2003 compensation: $13,219,759, up 205 percent from 2002.
Includes: Salary $990,018, bonuses of $990,000, restricted stock worth $859,650, options cashed in worth $8,747,093, stock dividends worth about $1.26 million, other annual compensation of $95,795, and all other compensation worth $277,203.
Options awarded: 220,000, with a current value of $7.1 million.
Value of stock owned: $66,086,861.
Value of unexercised options: $61,215,751.
5. A.G. Lafley
Chairman, President and CEO, Procter & Gamble Co.
Age: 57.
2003 compensation: $12,646,100, up 37 percent from 2002.
Includes: Salary $1,600,000, bonuses of $5,712,600, restricted stock worth $4,524,800, stock dividends worth about $330,000, and all other compensation worth $478,700.
Options awarded: 262,798, with a current value of $6.9 million.
Value of stock owned: $18,111,209.
Value of unexercised options: $5,132,500.
Notes: Restricted stock vests on retirement.
6. Keith Lindner
Co-president, American Financial Group. Resigned June 2003.
Age: 45.
2003 compensation: $9,290,400, up 28 percent from 2002.
Includes: Salary $892,000, stock dividends worth about $8,330,000, other annual compensation of $37,400, and all other compensation worth $31,000.
Options awarded: 55,000, but these were terminated when Lindner resigned.
Value of stock owned: $265,271,781.
Value of unexercised options: $1,744,817.
Notes: On his resignation, the company agreed to pay salary of $500,000 annually for five years, as well as provide office space, secretarial support and limited use of company aircraft. Stock owned and dividends include American Financial and Provident Financial Group Inc., which was acquired this year by National City Corp.
7. Edward L. Hutton
Chairman, Omnicare Inc., and chairman, Roto-Rooter Inc. (now Chemed Corp.)
Age: 85.
2003 compensation: $8,436,697, up 106 percent from 2002.
Includes: Salary $517,125, bonuses of $197,125, options cashed in worth $5,985,658, stock dividends worth about $30,000, other annual compensation of $108,744, and all other compensation worth $1,598,045.
Value of stock owned: $19,234,782.
Value of unexercised options: $9,675,013.
Notes: "All other" compensation represents a payment to a retirement plan.
8. Patrick E. Keefe
Executive VP of operations, Omnicare Inc.
Age: 58.
2003 compensation: $7,606,238, up 262 percent from 2002.
Includes: Salary $381,583, bonuses of $229,178, restricted stock worth $2,681,744, options cashed in worth $4,246,044, stock dividends worth about $30,000, other annual compensation of $11,117, and all other compensation worth $26,572.
Options awarded: 50,000, with a current value of $1.3 million.
Value of stock owned: $16,008,228.
Value of unexercised options: $1,778,618.
9. Carl H. Lindner
Chairman and CEO, American Financial Group
Age: 85.
2003 compensation: $7,354,200, down 3 percent from 2002.
Includes: Salary $990,000, bonuses of $425,000, stock dividends worth about $5.8 million, other annual compensation of $82,700, and all other compensation worth $26,500.
Value of stock owned: $339,703,007.
Notes: Stock owned and dividends include American Financial and Provident Financial Group Inc., which was acquired this year by National City Corp. Will relinquish CEO title in January to sons Carl III and S. Craig.
10. S. Craig Lindner
Co-president, American Financial Group
Age: 49.
2003 compensation: $7,287,500, down 6 percent from 2002.
Includes: Salary $990,000, bonuses of $425,000, stock dividends worth about $5.7 million, other annual compensation of $141,500, and all other compensation worth $31,000.
Options awarded: 55,000, with a current value of $638,000.
Value of stock owned: $278,043,485.
Value of unexercised options: $1,422,557.
Notes: Stock owned and dividends include American Financial and Provident Financial Group Inc., which was acquired this year by National City Corp. Will become co-CEO, with brother Carl III, in January.
11. David W. Froesel Jr.
Senior VP and CFO, Omnicare Inc.
Age: 52.
2003 compensation: $7,186,971, up 251 percent from 2002.
Includes: Salary $377,000, bonuses of $278,169, restricted stock worth $2,965,121, options cashed in worth $3,425,801, stock dividends worth about $20,000, other annual compensation of $6,406, and all other compensation worth $114,474.
Options awarded: 60,000, with a current value of $1.6 million.
Value of stock owned: $13,449,146.
Value of unexercised options: $1,569,167.
12. Carl H. Lindner III
Co-President, American Financial Group
Age: 51.
2003 compensation: $6,910,700, down 6 percent from 2002.
Includes: Salary $990,000, bonuses of $425,000, stock dividends worth about $5.3 million, other annual compensation of $144,700, and all other compensation worth $31,000.
Options awarded: 55,000, with a current value of $638,000.
Value of stock owned: $262,073,916.
Value of unexercised options: $1,419,370.
Notes: Stock owned and dividends include American Financial and Provident Financial Group Inc., which was acquired this year by National City Corp. Will become co-CEO, with brother S. Craig, in January.
13. Cheryl Hodges
Senior VP and secretary, Omnicare Inc.
Age: 52.
2003 compensation: $6,766,725, up 316 percent from 2002.
Includes: Salary $303,750, bonuses of $185,293, restricted stock worth $2,423,032, options cashed in worth $3,797,491, stock dividends worth about $30,000, other annual compensation of $4,151, and all other compensation worth $23,008.
Options awarded: 50,968, with a current value of $1.3 million.
Value of stock owned: $16,136,563.
Value of unexercised options: $2,688,675.
14. Richard Farmer
Chairman, Cintas Corp.
Age: 69.
2003 compensation: $6,712,925, up 6 percent from 2002.
Includes: Salary $382,130, stock dividends worth about $6.2 million, other annual compensation of $82,455, and all other compensation worth $8,340.
Value of stock owned: $907,042,410.
15. Kevin W. Mooney
CEO, Cincinnati Bell Inc. Resigned July 31, 2003
Age: 45.
2003 compensation: $5,248,947, up 351 percent from 2002.
Includes: Salary $416,308, bonuses of $415,800, options cashed in worth $162,047, and all other compensation worth $4,254,792.
Value of stock owned: $242,310.
Value of unexercised options: $819,000.
Notes: "All other" includes a severance payment of $2.75 million. Bonus includes a "success bonus" of $1.4 million for completing the sale of the company's broadband division.
16. John J. Schiff Jr.
President and CEO, Cincinnati Financial Corp.
Age: 61.
2003 compensation: $5,233,777, down 3 percent from 2002.
Includes: Salary $645,865, bonuses of $287,912, and stock dividends worth about $4,300,000.
Options awarded: 50,000, with a current value of $1.1 million.
Value of stock owned: $193,913,010.
Value of unexercised options: $1,709,416.
17. Terry Lundgren
Chairman, president and CEO, Federated Department Stores Inc.
Age: 52.
2003 compensation: $5,177,600, up 158 percent from 2002.
Includes: Salary $1,195,606, bonuses of $2,493,800, restricted stock worth $1,241,000, options cashed in worth $98,344, stock dividends worth about $50,000, other annual compensation of $93,791, and all other compensation worth $5,059.
Options awarded: 250,000, with a current value of $4 million.
Value of stock owned: $7,308,359.
Value of unexercised options: $7,050,531.
Notes: Based in New York City. "Other" includes a merchandise discount of $49,628.
18. David B. Dillon
CEO, Kroger Co.
Age: 53.
2003 compensation: $4,932,341, up 159 percent from 2002.
Includes: Salary $855,446, bonuses of $244,962, restricted stock worth $2,517,000, options cashed in worth $1,270,500, other annual compensation of $16,022, and all other compensation worth $28,411.
Value of stock owned: $18,859,529.
Value of unexercised options: $2,443,137.
Notes: Became chairman of Kroger in June.
19. Joseph A. Pichler
Chairman and former CEO, Kroger Co.
Age: 64.
2003 compensation: $4,699,412, down 18 percent from 2002.
Includes: Salary $1,300,000, bonuses of $422,188, restricted stock worth $2,256,000, options cashed in worth $569,375, other annual compensation of $58,904, and all other compensation worth $92,945.
Value of stock owned: $22,775,085.
Value of unexercised options: $4,830,209.
Notes: Retired as chairman in June.
20. Stephen J. Schrantz
Executive VP for commercial lending, Fifth Third Bancorp. Retired in May.
Age: 54.
2003 compensation: $4,533,962, up 240 percent from 2002.
Includes: Salary $599,997, bonuses of $230,000, options cashed in worth $3,257,765, stock dividends worth about $330,000, and all other compensation worth $116,200.
Options awarded: 70,000, with a current value of $2.3 million.
Value of stock owned: $17,326,702.
Value of unexercised options: $23,023,641.
21. Stanley N. Pontius
President and CEO, First Financial Bancorp. Resigned October 2003.
Age: 57.
2003 compensation: $4,654,614, up 244 percent from 2002.
Includes: Salary $509,929, restricted stock worth $505,242, options cashed in worth $127,153, stock dividends worth about $90,000, other annual compensation of $4,238, and all other compensation worth $3,421,867.
Value of stock owned: $2,513,383.
Notes: "All other" includes $3.4 million separation agreement.
22. Timothy E. Bien
Senior VP, Professional, Omnicare Inc.
Age: 53.
2003 compensation: $4,384,879, up 233 percent from 2002.
Includes: Salary $274,083, bonuses of $188,337, restricted stock worth $1,892,889, options cashed in worth $1,994,155, stock dividends worth about $10,000, other annual compensation of $6,537, and all other compensation worth $18,878.
Options awarded: 40,078, with a current value of $1.1 million.
Value of stock owned: $8,578,387.
Value of unexercised options: $578,448.
23. Cyrus F. Freidheim Jr.
Chairman, president and CEO, Chiquita Brands International. Retired in May.
Age: 69.
2003 compensation: $3,879,491, up 288 percent from 2002.
Includes: Salary $700,000, bonuses of $1,722,000, restricted stock worth $1,290,675, other annual compensation of $79,889, and all other compensation worth $86,927.
Options awarded: 150,000, with a current value of $676,800.
Value of stock owned: $3,347,592.
Value of unexercised options: $493,063.
24. Robert P. Niehaus
Executive VP, Fifth Third Bancorp.
Age: 57.
2003 compensation: $3,787,502, up 200 percent from 2002.
Includes: Salary $524,992, bonuses of $220,000, options cashed in worth $2,548,211, stock dividends worth about $390,000, and all other compensation worth $104,299.
Options awarded: 70,000, with a current value of $2.3 million.
Value of stock owned: $20,917,618.
Value of unexercised options: $16,708,857.
Notes: Will retire in October.
25. W. Rodney McMullen
Vice Chairman, Kroger Co.
Age: 43.
2003 compensation: $3,699,774, down 14 percent from 2002.
Includes: Salary $694,308, bonuses of $181,865, restricted stock worth $1,678,000, options cashed in worth $1,123,000, other annual compensation of $8,614, and all other compensation worth $13,987.
Value of stock owned: $8,484,669.
Value of unexercised options: $1,461,528.
26. Bruce L. Byrnes
Vice chairman and president of global beauty and feminine care and global health care, Procter & Gamble Co.
Age: 56.
2003 compensation: $3,682,200, down 38 percent from 2002.
Includes: Salary $835,000, bonuses of $1,707,500, options cashed in worth $776,100, stock dividends worth about $280,000, all other compensation worth $237,300, and minus a tax reimbursement of $153,700.
Options awarded: 104,425, with a current value of $2.7 million.
Value of stock owned: $15,687,279.
Value of unexercised options: $5,877,000.
Notes: Became vice chairman and president, global household care, on July 1.
27. Frederick W. Rockwood
President & CEO, Hillenbrand Industries Inc.
Age: 56.
2003 compensation: $3,598,853, up 46 percent from 2002.
Includes: Salary $996,354, bonuses of $1,882,188, restricted stock worth $540,350, stock dividends worth about $50,000, other annual compensation of $118,307, and all other compensation worth $11,650.
Options awarded: 100,000, with a current value of $1.3 million.
Value of stock owned: $3,131,642.
Value of unexercised options: $1,956,375.
Notes: Fiscal year 2002 was just 10 months long.
28. R. Kerry Clark
Vice chairman and president of global market development and business operations, Procter & Gamble Co.
Age: 52.
2003 compensation: $3,496,000, up 11 percent from 2002.
Includes: Salary $835,000, bonuses of $1,640,300, options cashed in worth $796,700, stock dividends worth about $80,000, and all other compensation worth $237,500, and minus a tax reimbursement of $93,500.
Options awarded: 104,425, with a theoretical value of $2.7 million.
Value of stock owned: $4,569,226.
Value of unexercised options: $3,873,500.
Notes: Became vice chairman and president, global health, baby and family care, on July 1.
29. Kenneth W. Lowe
President and CEO, E.W. Scripps Co.
Age: 54.
2003 compensation: $3,265,655, up 37 percent from 2002.
Includes: Salary $925,000, bonuses of $804,232, restricted stock worth $155,319, options cashed in worth $1,210,959, stock dividends worth about $140,000, and all other compensation worth $30,145.
Options awarded: 125,000 with a current value of $6.3 million.
Value of stock owned: $27,345,266.
Value of unexercised options: $13,846,699.
30. Don W. McGeorge
President and COO, Kroger Co.
Age: 49.
2003 compensation: $3,117,958, up 25 percent from 2002.
Includes: Salary $667,231, bonuses of $176,298, restricted stock worth $1,678,000, options cashed in worth $558,240, other annual compensation of $14,680, and all other compensation worth $23,509.
Value of stock owned: $6,419,711.
Value of unexercised options: $1,129,615.
31. Mark D. Ketchum
President, global baby and family care, Procter & Gamble Co
Age: 54.
2003 compensation: $3,109,400, up 60 percent from 2002.
Includes: Salary $755,000, bonuses of $1,503,500, options cashed in worth $566,100, stock dividends worth about $70,000, and all other compensation worth $214,800.
Options awarded: 60,225, with a current value of $1.6 million.
Value of stock owned: $3,910,008.
Value of unexercised options: $3,000,900.
32. Alan M. Horton
Senior VP for newspapers, E.W. Scripps Co.
Age: 61.
2003 compensation: $3,097,308, up 17 percent from 2002.
Includes: Salary $535,000, bonuses of $243,051, options cashed in worth $2,294,692, and all other compensation worth $24,565.
Options awarded: 40,000, with a current value of $2.0 million.
Value of stock owned: $237,775.
Value of unexercised options: $7,336,573.
33. Richard M. Wardrop Jr.
Chairman and CEO, AK Steel Holding Corp. Resigned Sept. 18, 2003.
Age: 58.
2003 compensation: $2,878,019, down 61 percent from 2002.
Includes: Salary $935,000, restricted stock worth $1,184,250, and all other compensation worth $758,769.
Options awarded: 100,000, with a current value of $496,512.
Notes: "All other" includes a severance payment of $650,000.
34. Neal E. Arnold
Executive VP and CFO, Fifth Third Bancorp.
Age: 44.
2003 compensation: $2,753,391, up 176 percent from 2002.
Includes: Salary $524,992, bonuses of $215,000, options cashed in worth $1,839,800, stock dividends worth about $70,000, and all other compensation worth $103,599.
Options awarded: 70,000, with a current value of $2.3 million.
Value of stock owned: $3,741,326.
Value of unexercised options: $12,118,683.
35. William J. Grealis
VP special projects, Cinergy Corp.
Age: 59.
2003 compensation: $2,781,347, down 27 percent from 2002.
Includes: Salary $569,538, bonuses of $1,504,796, restricted stock worth $4,427, options cashed in worth $285,335, stock dividends worth about $380,000, other annual compensation of $23,141, and all other compensation worth $14,110.
Options awarded: 30,500, with a current value of $649,955.
Value of stock owned: $8,145,132.
Value of unexercised options: $2,696,734.
36. Ronald Tysoe
Vice chair of finance and real estate, Federated Department Stores Inc.
Age: 52.
2003 compensation: $2,692,226, up 93 percent from 2002.
Includes: Salary $825,000, bonuses of $822,900, options cashed in worth $868,650, stock dividends worth about $40,000, other annual compensation of $130,617, and all other compensation worth $5,059.
Options awarded: 65,000, with a current value of $1.2 million.
Value of stock owned: $5,524,251.
Value of unexercised options: $2,112,844.
Notes: "Other annual" includes a merchandise discount of $44,363 and $49,985 for use of company aircraft.
37. Tom Cody
Vice chair for legal, human resources, internal audit and external affairs, Federated Department Stores Inc.
Age: 62.
2003 compensation: $2,641,963, up 112 percent from 2002.
Includes: Salary $746,667, bonuses of $748,100, options cashed in worth $997,648, stock dividends worth about $10,000, other annual compensation of $134,489, and all other compensation worth $5,059.
Options awarded: 65,000, with a current value of $1.2 million.
Value of stock owned: $1,925,029.
Value of unexercised options: $1,067,469.
Notes: "Other annual" includes a merchandise discount of $55,763 and $35,567 for use of company aircraft.
38. Gregory B. Kenny
President and CEO, General Cable Corp.
Age: 51.
2003 compensation: $2,559,558, up 328 percent from 2002.
Includes: Salary $550,000, bonuses of $348,250, restricted stock worth $900,790, other annual compensation of $745,000, and all other compensation worth $15,518.
Value of stock owned: $195,055.
Notes: "Other annual" compensation is a retention bonus.
39. Robert Kohlhepp
Vice chairman, Cintas Corp.
Age: 60.
2003 compensation: $2,520,214, up 78 percent from 2002.
Includes: Salary $543,900, options cashed in worth $991,101, stock dividends worth about $910,000, other annual compensation of $67,511, and all other compensation worth $7,702.
Value of stock owned: $132,990,116.
Value of unexercised options: $2,607,157.
40. Michael J. Cyrus
Executive VP and CEO of the commercial business unit, Cinergy Corp.
Age: 49.
2003 compensation: $2,429,708, down 22 percent from 2002.
Includes: Salary $589,560, bonuses of $1,567,676, restricted stock worth $4,427, stock dividends worth about $240,000, other annual compensation of $3,958, and all other compensation worth $24,087.
Options awarded: 31,300 with a current value of $667,003.
Value of stock owned: $5,247,228.
Value of unexercised options: $2,671,383.
41. Francis D. Gerace
President and CEO, Multi-Color Corp.
Age: 51.
2003 compensation: $2,428,386, up 52 percent from 2002.
Includes: Salary $300,000, bonuses of $65,794, options cashed in worth $2,026,013, other annual compensation of $30,429, and all other compensation worth $6,150.
Options awarded: 22,500, with a current value of $160,321.
Value of stock owned: $2,938,700.
Value of unexercised options: $981,694.
42. David B. O'Maley
CEO, Ohio National Life Insurance Co.
Age: 57.
2003 compensation: $2,335,216, down 7 percent from 2002.
Includes: Salary $528,668, bonuses of $942,311, and all other compensation worth $864,237.
43. R. Foster Duncan
Executive VP and CFO, Cinergy Corp.
Age: 50.
2003 compensation: $2,298,698, up 30 percent from 2002.
Includes: Salary $592,860, bonuses of $1,361,434, restricted stock worth $10,331, stock dividends worth about $30,000, other annual compensation of $278,163, and all other compensation worth $25,910.
Options awarded: 29,000, with a current value of $617,900.
Value of stock owned: $808,606.
Value of unexercised options: $548,800.
Notes: "Other annual" includes relocation benefit of $242,675.
44. Thomas L. Schilling
CFO, Cincinnati Bell Inc. Resigned Dec. 13, 2003.
Age: 40.
2003 compensation: $2,300,167, up 350 percent from 2002.
Includes: Salary $325,000, bonuses of $241,109, options cashed in worth $175,680, and all other compensation worth $1,558,378.
Options awarded: 1,000, with a theoretical value of $3,557.
Value of unexercised options: $340,200.
Notes: "All other" includes a severance payment of $1.1 million. Bonus includes a "success bonus" of $268,125 for completing the sale of the company's broadband division.
45. Jeffrey C. Smith
Chief human resources officer, Cincinnati Bell Inc. Resigned Dec. 13, 2003.
Age: 52.
2003 compensation: $2,210,953, up 268 percent from 2002.
Includes: Salary $350,000, bonuses of $236,578, and all other compensation worth $1,624,375.
Options awarded: 1,000, with a current value of $3,557.
Value of stock owned: $219,813.
Value of unexercised options: $393,750.
Notes: "All other" includes a severance payment of $1.2 million. Bonus includes a "success bonus" of $288,750 for completing the sale of the company's broadband division.
46. William J. Motto
Chairman and CEO, Meridian Bioscience Inc.
Age: 63.
2003 compensation: $2,191,296, up 40 percent from 2002.
Includes: Salary $395,000, bonuses of $251,813, stock dividends worth about $1,340,000, and all other compensation worth $204,483.
Value of stock owned: $43,181,777.
Value of unexercised options: $149,724.
47. James F. Orr
Chairman, president and CEO, Convergys Corp.
Age: 58.
2003 compensation: $1,987,068, down 81 percent from 2002.
Includes: Salary $880,000, bonuses of $859,200, restricted stock worth $228,600, and all other compensation worth $19,268.
Options awarded: 245,108, with a current value of $1.8 million.
Value of stock owned: $9,651,190.
Value of unexercised options: $1,715,826.
Note: 2002 pay included a grant of restricted stock worth $9 million.
48. Michael D. Baker
Executive VP, Fifth Third Bancorp.
Age: 53.
2003 compensation: $1,924,613, up 56 percent from 2002.
Includes: Salary $520,000, bonuses of $205,000, options cashed in worth $768,113, stock dividends worth about $330,000, and all other compensation worth $101,500.
Options awarded: 70,000, with a current value of $2.3 million.
Value of stock owned: $17,505,716.
Value of unexercised options: $18,122,843.
49. Paul W. Heldman
Senior VP, secretary and general counsel, Kroger Co.
Age: 52.
2003 compensation: $1,864,715, down 3 percent from 2002.
Includes: Salary $560,815, bonuses of $116,913, restricted stock worth $671,200, options cashed in worth $482,500, other annual compensation of $12,557, and all other compensation worth $20,730.
Value of stock owned: $3,933,584.
Value of unexercised options: $2,079,764.
50. Robert F. Kistinger
President and COO, Chiquita Brands International.
Age: 51.
2003 compensation: $1,783,337, up 49 percent from 2002.
Includes: Salary $548,654, bonuses of $745,600, restricted stock worth $372,075, and all other compensation worth $117,008.
Value of stock owned: $429,000.
Value of unexercised options: $633,938.
51. Robert L. Hoverson
President and CEO, Provident Financial Group Inc.
Age: 62.
2003 compensation: $1,739,642, down 2 percent from 2002.
Includes: Salary $664,262, bonuses of $425,000, options cashed in worth $386,100, stock dividends worth about $220,000, and all other compensation worth $44,280.
Options awarded: 90,000, with a current value of $581,598.
Value of stock owned: $9,134,270.
Value of unexercised options: $1,888,128.
Notes: Provident was acquired this year by National City Corp.
52. Scott D. Farmer
President and CEO, Cintas Corp.
Age: 45.
2003 compensation: $1,529,091, down 19 percent from 2002.
Includes: Salary $499,500, options cashed in worth $901,926, stock dividends worth about $120,000, and all other compensation worth $7,665.
Value of stock owned: $17,542,078.
Value of unexercised options: $707,355.
Notes: Scott is the son of Cintas Chairman Richard Farmer.
53. Richard A. Boehne
Executive VP, E.W. Scripps Co.
Age: 48.
2003 compensation: $1,513,511, up 1 percent from 2002.
Includes: Salary $550,000, bonuses of $358,644, options cashed in worth $586,930, and all other compensation worth $17,937.
Options awarded: 55,000, with a current value of $2.8 million.
Value of stock owned: $949,388.
Value of unexercised options: $6,576,016.
54. Marc E. Manly
Executive VP and chief legal officer, Cinergy Corp.
Age: 52.
2003 compensation: $1,502,345, up 397 percent from 2002.
Includes: Salary $479,760, bonuses of $777,513, restricted stock worth $4,427, other annual compensation of $221,132, and all other compensation worth $19,513.
Options awarded: 25,100, with a theoretical value of $534,881.
Value of stock owned: $181,864.
Value of unexercised options: $288,400.
Notes: Started November 2002. "Other" includes relocation benefit of $188,839. Earned $302,227 in 2002, for two month's work.
55. James E. Evans
Senior VP and general counsel, American Financial Group.
Age: 58.
2003 compensation: $1,481,300, down 19 percent from 2002.
Includes: Salary $990,000, bonuses of $400,000, stock dividends worth about $60,000, other annual compensation of $300, and all other compensation worth $31,000.
Options awarded: 50,000, with a value of $580,000.
Value of stock owned: $3,592,158.
Value of unexercised options: $406,700.
56. Scott K. Sorensen
VP and CFO, Hillenbrand Industries Inc.
Age: 42.
2003 compensation: $1,474,528, up 55 percent from 2002.
Includes: Salary $427,882, bonuses of $769,811, restricted stock worth $270,175, and all other compensation worth $6,660.
Options awarded: 25,000, with a current value of $318,778.
Value of stock owned: $195,231.
Value of unexercised options: $389,725.
Notes: Fiscal year 2002 was just 10 months long.
57. James J. O'Brien
Chairman and CEO, Ashland Inc.
Age: 50.
2003 compensation: $1,427,939, down 58 percent from 2002.
Includes: Salary $797,262, bonuses of $507,372, stock dividends worth about $100,000, other annual compensation of $15,560, and all other compensation worth $7,745.
Options awarded: 200,000 with a current value of $1.4 million.
Value of stock owned: $3,151,005.
Value of unexercised options: $316,427.
58. Dawn H. Bertsche
CFO, VP of finance and secretary, Multi-Color Corp.
Age: 47.
2003 compensation: $1,378,764, up 281 percent from 2002.
Includes: Salary $187,500, bonuses of $41,121, options cashed in worth $1,125,563, other annual compensation of $18,484, and all other compensation worth $6,096.
Options awarded: 22,500, with a current value of $160,321.
Value of stock owned: $999,977.
Value of unexercised options: $551,588.
59. Jack Cassidy
President and CEO, Cincinnati Bell Inc. Named CEO July 28, 2003.
Age: 49.
2003 compensation: $1,278,000, up 36 percent from 2002.
Includes: Salary $550,000, bonuses of $720,000, and all other compensation worth $8,000.
Options awarded: 801,000, with a current value of $2.8 million.
Value of stock owned: $369,695.
Value of unexercised options: $264,600.
60. John G. Hritz
President, AK Steel Holding Corp. Resigned Sept. 18, 2003.
Age: 49.
2003 compensation: $1,243,654, down 20 percent from 2002.
Includes: Salary $359,849, bonuses of $107,955, restricted stock worth $505,280, and all other compensation worth $270,570.
Options awarded: 40,000, with a current value of $198,605.
Notes: "All other" includes a severance payment of $250,000.
61. R. Ernest Waaser
President and CEO of Hill-Rom Co. Inc. division, Hillenbrand Industries Inc.
Age: 47.
2003 compensation: $1,234,176, up 39 percent from 2002.
Includes: Salary $379,355, bonuses of $522,067, restricted stock worth $270,175, other annual compensation of $55,604, and all other compensation worth $6,975.
Options awarded: 25,000, with a current value of $318,778.
Value of stock owned: $354,313.
Value of unexercised options: $119,869.
Notes: Fiscal year 2002 was just 10 months long.
62. Michael S. Heschel
Executive VP and chief information officer, Kroger Co.
Age: 62.
2003 compensation: $1,234,202, down 41 percent from 2002.
Includes: Salary $576,769, bonuses of $130,275, restricted stock worth $419,500, other annual compensation of $39,744, and all other compensation worth $67,914.
Value of stock owned: $2,815,461.
Value of unexercised options: $634,931.
63. Christopher Virgulak
Executive VP, CFO and treasurer, General Cable Corp.
Age: 48.
2003 compensation: $1,210,114, up 248 percent from 2002.
Includes: Salary $328,388, bonuses of $152,171, restricted stock worth $228,430, other annual compensation of $495,000, and all other compensation worth $6,125.
Value of stock owned: $10,766.
Notes: "Other annual" compensation is a retention bonus.
64. Robert W. Olson
Senior VP, general counsel and secretary, Chiquita Brands International.
Age: 58.
2003 compensation: $1,192,968, up 39 percent from 2002.
Includes: Salary $400,000, bonuses of $406,000, restricted stock worth $233,700, other annual compensation of $593, and all other compensation worth $152,675.
Value of stock owned: $287,854.
Value of unexercised options: $316,969.
65. James L. Wainscott
President and CEO, AK Steel Holding Corp.
Age: 47.
2003 compensation: $1,184,147, down 20 percent from 2002.
Includes: Salary $467,433, bonuses of $547,099, restricted stock worth $167,932, and all other compensation worth $1,683.
Options awarded: 430,000, with a theoretical value of $859,605.
Value of stock owned: $947,223.
66. Robert J. Siverd
Executive VP, general counsel and secretary, General Cable Corp.
Age: 55.
2003 compensation: $1,177,774, up 256 percent from 2002.
Includes: Salary $312,750, bonuses of $148,496, restricted stock worth $215,500, other annual compensation of $495,000, and all other compensation worth $6,028.
Value of stock owned: $571,092.
Notes: "Other annual" compensation is a retention bonus.
67. Fred J. Runk
Senior VP, American Financial Group
Age: 61.
2003 compensation: $1,138,200, up 10 percent from 2002.
Includes: Salary $700,000, bonuses of $285,000, stock dividends worth about $120,000, other annual compensation of $6,200, and all other compensation worth $27,000.
Options awarded: 35,000, with a current value of $406,000.
Value of stock owned: $7,741,571.
Value of unexercised options: $284,690.
68. David G. Smith
Executive VP, Ohio National Life Insurance Co.
Age: 61.
2003 compensation: $1,121,127, up 99 percent from 2002.
Includes: Salary $371,538, bonuses of $411,854, and all other compensation worth $337,735.
69. Kenney A. Camp
President and CEO of Batesville Casket Co. Inc. division, Hillenbrand Industries Inc.
Age: 58.
2003 compensation: $1,110,809, up 71 percent from 2002.
Includes: Salary $359,448, bonuses of $474,280, restricted stock worth $270,175, and all other compensation worth $6,906.
Options awarded: 20,000, with a current value of $255,022.
Value of stock owned: $495,466.
Value of unexercised options: $715,287.
Notes: Fiscal year 2002 was just 10 months long.
70. Ronald E. Schultz
Senior VP, business development, Convergys Corp.
Age: 49.
2003 compensation: $1,068,046, up 128 percent from 2002.
Includes: Salary $375,000, bonuses of $247,400, restricted stock worth $426,720, and all other compensation worth $18,926.
Options awarded: 63,394, with a current value of $462,125.
Value of stock owned: $1,221,711.
Value of unexercised options: $99,693.
71. Ronald D. Brown
Chairman, president and CEO, Milacron Inc.
Age: 51.
2003 compensation: $1,067,278, down 23 percent from 2002.
Includes: Salary $600,000, restricted stock worth $465,040, and other annual compensation of $2,238.
Value of stock owned: $893,161.
72. Joseph P. Hayden III
Chairman and COO, Midland Co.
Age: 51.
2003 compensation: $1,011,780, up 34 percent from 2002.
Includes: Salary $489,000, bonuses of $215,040, restricted stock worth $130,560, stock dividends worth about $120,000, and all other compensation worth $57,180.
Options awarded: 25,135, with a current value of $184,742.
Value of stock owned: $16,337,976.
Value of unexercised options: $331,647.
EXECUTIVE PAY
A bountiful harvest
72 in the $1 million club
Among top executives, white males dominate
Guide to rankings
The method behind the numbers
Top officer earnings for P&G, Cintas
Spare change: Nuggets from the proxy statements
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