NEW YORK—Janus Capital Group Inc. paid Chief Executive Gary Black $8.9 million in 2007, which represents a 17 percent pay-cut, in a year in which the investment manager's stock soared 52 percent.
In a filing with the Securities and Exchange Commission late Wednesday, Janus Capital said it paid Black a salary of $800,000, plus a $6.3 million "incentive plan" bonus. The company also granted Black $1.7 million in stock and options, as well as $27,617 in "other" compensation including 401(k) contributions and life insurance.
In 2006, Black received compensation valued at $10.7 million.
Janus earned $202 million in 2007, a 45 percent increase versus 2006.
Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.
The stock gained 52 percent over 2007, to close Dec. 31 at $32.85.
