Verizon CEO's 2008 compensation tops $20 million

02.03.2009
Ivan Seidenberg, chairman and CEO of Verizon Communications (NYSE:VZ), took home roughly US$20.2 million in compensation - including pay, vested stock and exercised option awards - in 2008, according to documents filed last week with the Securities and Exchange Commission.

His compensation includes a $2.1 million salary, $3.7 million bonus, $13.1 million in stock and option awards, $946,754 in (including $143,489 for personal use of a company aircraft), and $322,862 in deferred compensation earnings.

Overall, Seidenberg's $20.2 million compensation is down slightly from 2007, when he took home nearly $20.4 million. His $2.1 million salary is unchanged from 2007, and the value of stock and option awards is almost equal. His bonus fell 12% from $4.2 million.

While Seidenberg's declined slightly compared to his 2007 package, in income and revenue for its fiscal year ended Dec. 31.