US: Constellation chiefs in the money in 2006
Constellation has released details of the salaries for its leading executives next year. The drinks company gave the information in a Securities and Exchange Commission filing yesterday (13 April), which outlined fiscal 2006 base salary and stock option awards and fiscal 2005 incentive-based awards.
The company's chairman and CEO, Richard Sands, will receive a base salary of US$1m and 78,100 stock options in 2006, plus a bonus of US$1.2m for this year. President and COO, Robert Sands, will receive a base salary of US$820,000 and 64,000 stock options next year, as well as a bonus of US$412,478 for 2005.
Executive vice president and chief financial officer Thomas Summer will receive a base salary of US$441,334 and 20,300 stock options in 2006, plus a bonus of US$412,478 this year.
Constellation said that it has also adopted a bonus award plan for 2006, based on a minimum of 15% up to a maximum of 200% of the executive officers' base salaries.
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