Debra Cafaro, chief executive of Ventas Inc., received a compensation package in 2008 of $7.6 million, up 86 percent from the year, mostly due to keeping the health care real estate investment trust ahead of its peers amid deteriorating economic and financial conditions.
Cafaro was paid a salary of $630,000, up 5 percent from 2007, according to a Securities and Exchange Commission filing Wednesday. She didn't receive a cash incentive bonus this year, compared with 2007's $2.1 million cash incentive bonus tied to her amended employment agreement.
However, she received a performance-based cash bonus of $1.5 million by meeting annual goals that included outperforming industry peers' stock, increasing borrowing capacity, suspending acquisitions during poor market conditions and selling $131.6 million in property. Cafaro didn't receive a performance-based cash bonus the year before.
Cafaro also got $36,485 in perks, down from $37,857 in 2007. The bulk of the perks included $24,908 in payments for supplemental disability insurance.
The largest portion of her compensation package was in the form of stock options and restricted stock -- worth about $5.4 million on the day they were granted early last year. However, the awards have exercise prices of $41.54, about $18 above the company's current stock price. That means the awards are currently worth much less absent a substantial rebound in stock price.
She received $1.3 million in stock options and restricted stock the year before.
The stock options and restricted stock reflect Cafaro's ability to reach long-term company goals including maximizing shareholder returns, integrating operations and assets of Sunrise Senior Living Inc., improving credit worthiness and maintaining a solid balance sheet.
The Associated Press' compensation formula aims to isolate the value the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related 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 present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission, which reflect the size of the accounting charge taken for the executive's compensation in the previous fiscal year.
For 2008, Chicago-based Ventas reported funds from operations, a key measure of REIT health, of $416 million, up 10 percent from $377.7 million the year before. Excluding certain items, full-year FFO was $383.2 million compared with $330.6 million in 2007.
Shares fell about 26 percent to end the year at $33.57.
source: yahoo
Cafaro was paid a salary of $630,000, up 5 percent from 2007, according to a Securities and Exchange Commission filing Wednesday. She didn't receive a cash incentive bonus this year, compared with 2007's $2.1 million cash incentive bonus tied to her amended employment agreement.
However, she received a performance-based cash bonus of $1.5 million by meeting annual goals that included outperforming industry peers' stock, increasing borrowing capacity, suspending acquisitions during poor market conditions and selling $131.6 million in property. Cafaro didn't receive a performance-based cash bonus the year before.
Cafaro also got $36,485 in perks, down from $37,857 in 2007. The bulk of the perks included $24,908 in payments for supplemental disability insurance.
The largest portion of her compensation package was in the form of stock options and restricted stock -- worth about $5.4 million on the day they were granted early last year. However, the awards have exercise prices of $41.54, about $18 above the company's current stock price. That means the awards are currently worth much less absent a substantial rebound in stock price.
She received $1.3 million in stock options and restricted stock the year before.
The stock options and restricted stock reflect Cafaro's ability to reach long-term company goals including maximizing shareholder returns, integrating operations and assets of Sunrise Senior Living Inc., improving credit worthiness and maintaining a solid balance sheet.
The Associated Press' compensation formula aims to isolate the value the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related 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 present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission, which reflect the size of the accounting charge taken for the executive's compensation in the previous fiscal year.
For 2008, Chicago-based Ventas reported funds from operations, a key measure of REIT health, of $416 million, up 10 percent from $377.7 million the year before. Excluding certain items, full-year FFO was $383.2 million compared with $330.6 million in 2007.
Shares fell about 26 percent to end the year at $33.57.
source: yahoo
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