Ensco CEO Gets $7.7M In Total Pay, An 8 Pct Jump

DALLAS (AP) — Contract driller Ensco International Inc. raised its chief executive's total compensation by about 8 percent in 2008, the same year the company's profit jumped despite a volatile energy market, according to an Associated Press calculation of figures disclosed in a filing with the Securities and Exchange Commission.

Daniel Rabun, the company's chairman, president and CEO, saw his total compensation climb to $7.7 million in 2008. He earned $7.1 million in 2007.

Rabun's salary jumped 8 percent to $851,813, compared with the $787,500 he earned in 2007. Rabun received a performance-based bonus of $1.2 million, a 4 percent bump from the $1.1 million he earned the year before. Ensco also gave him about $148,196 in "other" compensation, which includes about $85,182 toward his profit sharing plan, $31,091 for his retirement savings plan and $15,041 in dividends on non-vested restricted stock.

On June 1, 2008, the company granted Rabun restricted stock valued at $5.5 million when shares were trading at $71.83. Ensco's stock has fallen 56 percent since then, so the awards are worth much less today.

Of the five company officials listed in the filing, Rabun, 54 and CEO since January 2007, was by far the highest paid executive.