It's $3.4 Million For Edgar Bronfman Jr.
January 28, 2008 at 6:22 AM (PT)
WARNER MUSIC GROUP Chairman/CEO EDGAR BRONFMAN JR. received a compensation package in fiscal 2007 valued at $3.4 million, according to an analysis of documents filed FRIDAY with the Securities and Exchange Commission. BRONFMAN received a salary of $1 million along with $2,419,855 in dividends paid on restricted stock, the NEW YORK-based recording company said.
BRONFMAN, who has headed the company since 2004, declined to receive a cash bonus for the fiscal year ended SEPTEMBER 30th, opting instead for the money to go toward other non-executive employees' bonuses, the company said. WARNER did not specify the size of the bonus that BRONFMAN would have been entitled to receive.
The ASSOCIATED PRESS calculations of total compensation include salary, bonus, incentives, perks, any above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.