CEO Of Vulcan Materials Loses Bonus In Recession

STEPHEN SINGER

HARTFORD, Conn. (AP) — Donald M. James, chief executive of Vulcan Materials Co., which supplies sand and gravel for highway construction, received a compensation package in 2008 of nearly $4.5 million, down more than half from the previous year as the company eliminated its bonus because financial goals were not met, an analysis of a regulatory filing showed.

James was paid a salary of $1.2 million, up about 5 percent from 2007 and received other compensation of $431,049 in thrift plan contributions and other financial benefits, according to a regulatory filing Wednesday. He also received $2.8 million in stock options and restricted stock, which was down by nearly half from 2007.

James, 60, did not receive a performance bonus, though he received a $2.9 million bonus in 2007. ...