Freeport-McMoRan Chairman James Moffett's 2007 pay jumps 78% to $70M
Freeport-McMoRan reports 2007 executive compensation
By ExecPay News
Published: April 25, 2008
Freeport-McMoRan reported fiscal year 2007 executive compensation information on April 25, 2008.
In 2007, five executives at Freeport-McMoRan received on average a compensation package of $36M, a 125% increase compared to previous year.
Average pay of disclosed executives at Freeport-McMoRan
James R. Moffett, Chairman, received $70M in total, which increased by 78% compared to 2006. 48% of Moffett's compensation, or $33M, was in option awards. Moffett also received $1.3M of change in pension value and nonqualified deferred compensation earnings, $30M in non-equity incentive plan, $2.5M in salary, as well as $2.7M in other compensation.
Richard C. Adkerson, Chief Executive Officer, received a compensation package of $68M, which increased by 111% compared to previous year. 49% of the compensation package, or $33M, was in option awards.
Kathleen L. Quirk, Chief Financial Officer, earned $16M in 2007, a 239% increase compared to previous year.
Michael J. Arnold, Chief Administrative Officer, received $13M in 2007, which increases by 130% compared to 2006.
Timothy R. Snider, Chief Operating Officer, earned $11M in 2007.
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Source: SEC filing on April 25, 2008.