WSJ: UPS CEO Davis Earned $6.24M In 2009 Total Compensation

March 2, 2010: United Parcel Service Inc. (UPS) said the total compensation paid to Chief Executive Scott Davis fell about 0.6% last year, to $6.24 million. Davis's 2009 base salary was flat at $1 million, in keeping with the package delivery giant's move to freeze management salaries amid the economic downturn. In addition, the value of stock awards included in the calculation of his total compensation slipped to $3.89 million, from about $3.97 million in 2008, according to the company's proxy statement filed late Monday.

UPS pegged Davis's 2008 total compensation at $5.6 million in its proxy statement last year. But Norman Black, a UPS spokesman, said a subsequent change in accounting standards for stock awards resulted in a restatement of his 2008 total compensation to $6.28 million.

Last month, UPS announced a thaw in its policy on management salary freezes for this year, citing signs of a nascent economic recovery. Black said managers will have to achieve various performance benchmarks to get them.

The company will hold its annual meeting May 6 in Wilmington, Del. No proposals from shareholders are up for consideration.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Building for the Future: New TDU Dues Rates

TDU is on a drive to increase our membership and our war chest. At our recent Convention, members voted to increase TDU membership dues for the first time in 17 years.

Pension Protection Committee Responds to Grassley Bill

The National United Committee to Protect Pensions (NUCPP) has issued a statement in response to the Multiemployer Pension Recapitalization and Reform bill introduced by Senator Chuck Grassley (R-IA) and Lamar Alexander (R-TN)

View More News Posts