Human Capital & Careers

Finance Execs Cash In on Options

Sallie Mae; Lear Corp.; Time Warner; ITT Industries.
Stephen TaubApril 5, 2004
  • John Remondi, executive vice president for corporate finance of SLM, better known as Sallie Mae, earned more than $9.3 million last year from exercising stock options and then selling the underlying shares. He also received a $300,000 salary and a bonus of $600,000, more than double the prior year’s bonus.

Altogether, he took home more than $10.5 million in 2003.

  • Lear Corp. senior vice president and chief financial officer David Waisgras earned more than $3.1 million last year. This included more than $1 million in restricted stock, compared with just $57,500 the prior year, and another $1 million from exercising options.
  • Time Warner executive vice president and chief financial officer Wayne Pace took home about $5 million last year. This included a salary of $1 million and a bonus of $2.7 million, up about $1 million from the prior year. Pace also received an award of restricted stock worth $814,000; he received no such award in 2001 or 2002.
  • ITT Industries senior vice president and chief financial officer Edward Williams earned more than $2.4 million, including more than $1.1 million from exercising stock options.

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