Banking
Citi's Weill Pulled In $28.6 Million in 2000
Eileen Kinsella
03/02/01 - 06:59 PM EST
Citigroup's (C Quote) latest ads advise people to "Live Richly." Judging from Sandy Weill's latest pay stub, he is doing just that. According to a regulatory filing, Weill's 2000 compensation package comes to $28.6 million, including a regular salary of $1 million, a hefty $18.4 million bonus, $8.7 million in restricted stock and $450,000 of "other income." Weill's bonus skyrocketed 112% in 2000, to $18.5 million, even as earnings per share rose just 21%. In comparison, Weill's bonus rose 42% in 1999, against a 75% rise in EPS. A more
recent hire, former Treasury Secretary Robert Rubin, has quickly come up to speed. Rubin, who came on board in October 1999, earned a $10 million bonus on top of his $1 million salary. Adding in restricted stock and other income, Rubin's package totaled $16.5 million. Meanwhile, former co-Chairman John Reed, who stepped down in April, got a salary of $302,000, a bonus of $5 million and restricted stock of $96,000, bringing his total pay package to $5.4 million. Additionally, the value of Sandy Weill's realized options in 2000 -- those that have been exercised but not necessarily sold -- brings the theoretical value of his pay package to $224.6 million.