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Thursday, March 06, 2008

KB Home CEO awarded $6 million bonus for 2007

Jeffrey Mezger, chief executive of home builder KB Home (KBH.N: Quote, Profile, Research) was awarded a cash bonus of $6 million in 2007 on top of his annual base salary of $1 million, according to a regulatory filing on Wednesday.

His total compensation came to about $24.4 million, including $16 million in restricted stock and "phantom" shares granted in 2007 that will vest in the future as part of a long-term incentive plan, according to the filing with the Securities and Exchange Commission. Phantom shares are securities that act like stock but aren't technically shares.

[...]

In fiscal 2007, which ended in November 2007, the company's stock fell nearly 60 percent.

[...]

Labels: Corporate Destroyed America, Jeffrey Metzger

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