Washington Real Estate Investment Trust CEO Edmund Cronin's 2007 pay falls 40% to $2M

Washington Real Estate Investment Trust reports 2007 executive compensation

By ExecPay News

Published: April 4, 2008

Washington Real Estate Investment Trust reported fiscal year 2007 executive compensation information on April 4, 2008.

In 2007, six executives at Washington Real Estate Investment Trust received on average a compensation package of $1.2M, a 4% decrease compared to previous year.

Average pay of disclosed executives at Washington Real Estate Investment Trust

Edmund B. Cronin, Jr, Chief Executive Officer, received $2M in total, which decreased by 40% compared to 2006. 56% of Cronin's compensation, or $1.1M, was in stock awards. Cronin also received $225K of change in pension value and nonqualified deferred compensation earnings, $327K in non-equity incentive plan, $230K in salary, as well as $101K in other compensation.

George F. McKenzie, Chief Executive Officer, received a compensation package of $1.8M, which increased by 63% compared to previous year. 45% of the compensation package, or $785K, was in stock awards.

Sara L. Grootwassink, Chief Financial Officer, earned $1.3M in 2007, a 73% increase compared to previous year.

Laura M. Franklin, Secretary, received $1.1M in 2007, which increases by 54% compared to 2006.

Thomas L. Regnell, Senior Vice President -Acquisitions, earned $799K in 2007, a 34% increase compared to previous year.

Michael S. Paukstitus, Senior Vice President - Real Estate, received $510K in 2007.