Monster CEO Iannuzzi received 2007 compensation of $12.9M

NEW YORK—Sal Iannuzzi, the chief executive, president and chairman of online job listings company Monster Worldwide Inc., received compensation valued at $12.9 million in 2007, according to a Securities and Exchange Commission filing Monday.

Iannuzzi, 54, who became Monster's CEO in April 2007, received a salary of $723,077 and a bonus of $377,778 in 2007. He also received $1 million in non-equity incentive plan compensation.

Iannuzzi received $9,697 in other compensation, which included $1,212 in company contributions to his 401(k) plan. The $9,697 figure reflects a $46,450 reversal of stock-based compensation expenses, which was subtracted from his other compensation in the filing.

The reversal represents the unvested portion of a stock award Iannuzzi forfeited when he moved from being a non-employee director to serving in his current employee roles in the company.

Iannuzzi received non-employee director compensation of $29,722.

In 2007, Iannuzzi also received stock options and restricted stock which were valued at $10.8 million on the dates they were granted, according to the filing.

Monster also reported in the SEC filing that William M. Pastore, who served as its chief executive and president until April 2007, received a salary of $400,000 last year.

Pastore received $425,820 in other compensation, which, among other items, included $400,000 in a cash severance payment.

Pastore also received stock options and restricted stock valued at $19 million on their award date, according to the filing.

Monster's profit almost quadrupled to $146.4 million in 2007. Sales rose almost 21 percent to $1.35 billion.

During the year, the company's stock fell 30.5 percent.

Monster shares fell 63 cents to finish trading at $22.83 on Tuesday.