March 13 (Reuters) - State Street Corp, which is struggling to cope with billions of dollars of unrealized investment losses, said Chief Executive Ronald Logue's 2008 compensation rose slightly to $28.7 million
The Boston-based company, one of the world's biggest institutional money managers, said Logue was granted a $1 million salary, $19.8 million in stock and option awards, $7.8 million of pension value and nonqualified deferred compensation and $120,824 in other compensation.
State Street reported Logue's compensation in a summary table included in a proxy filing on Friday with the U.S. Securities and Exchange Commission.
Logue's total compensation was $28.3 million in 2007, according to the filing.
Some pay consultants and governance experts tabulate executive pay differently, saying the summary total may be imperfect since it counts options and stock as part of pay when they vest rather than when they are awarded.
The company, which received $2 billion from the government last year as part of the Treasury's Troubled Asset Relief Program, has been seen as one of the more stable companies in the banking and asset management industry.
Shares of the company closed down 5 percent at $22.66 Friday on the New York Stock Exchange.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Deepak Kannan) Keywords: STATESTREET/ (supantha.mukherjee@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: supantha.mukherjee.reuters.com@reuters.net;) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Boston-based company, one of the world's biggest institutional money managers, said Logue was granted a $1 million salary, $19.8 million in stock and option awards, $7.8 million of pension value and nonqualified deferred compensation and $120,824 in other compensation.
State Street reported Logue's compensation in a summary table included in a proxy filing on Friday with the U.S. Securities and Exchange Commission.
Logue's total compensation was $28.3 million in 2007, according to the filing.
Some pay consultants and governance experts tabulate executive pay differently, saying the summary total may be imperfect since it counts options and stock as part of pay when they vest rather than when they are awarded.
The company, which received $2 billion from the government last year as part of the Treasury's Troubled Asset Relief Program, has been seen as one of the more stable companies in the banking and asset management industry.
Shares of the company closed down 5 percent at $22.66 Friday on the New York Stock Exchange.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Deepak Kannan) Keywords: STATESTREET/ (supantha.mukherjee@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: supantha.mukherjee.reuters.com@reuters.net;) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.