James Cracchiolo, P, CEO Total compensation: $5,761,788 for the year ended Dec. 31.
Salary: $850,000
Bonus: $0
Long-term incentive pay: $1,386,000
Other compensation: $543,432
Restricted stock: $0
Exercised stock options: $0
Value realized on vesting shares: $2,982,356
New stock options: 656,535
Total return to shareholders: -56.8 percent
Note: Cracchiolo took home 60.8 percent less total compensation than he did a year ago. Cracchiolo and other named executives will not receive salary increases for 2009; they did not receive cash incentive awards or restricted stock awards for 2008 performance. Cracchiolo and others did receive cash incentives under a long-term incentive program that looks at three-year performance periods. Cracchiolo's $1.4 million award under that program was 55 percent less than last year. In January 2008, Cracchiolo was awarded 656,535 options for 2007 performance; the shares had an exercise price of $52.86. The company's net revenue was down 19 percent from 2007, and the company reported a net loss of $38 million compared with net income of $814 million in 2007. Ameriprise Financial was able to trumpet some successes in 2008, including two key acquisitions, and it increased its quarterly dividend from 15 cents to 17 cents per share.
PATRICK KENNEDY
The FAA mandated each airline cut 4% of its traffic on Friday, with a goal of cutting 10% in a week if the government shutdown is not resolved.
