Anheuser-Busch CEO awarded $12.2 mln in 2007
(Reuters) - U.S. brewer Anheuser-Busch Cos Inc's <BUD.N> 2007 compensation package for Chief Executive August Busch IV fell more than 3 percent from a year earlier to $12.2 million mainly because of lower restricted stock and option units granted.
Busch's compensation fell from about $12.7 million in 2006, according to a proxy filing with the U.S. Securities and Exchange Commission.
Busch was awarded a $1.2 million salary, up slightly from his 2006 salary of $972,917. His bonus roughly doubled to $2.5 million in 2007 and other compensation came in at $206,013.
Busch was also granted restricted stock and option units valued at $8.3 million as of the grant date, the filing shows. In 2006, Busch had been awarded stock and option units worth $10.4 million.
Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, and incentives and perks.
Busch, 42, became CEO on Dec 1, 2006. He is also on the board of FedEx Corp <FDX.N>.
St. Louis, Missouri-based Anheuser-Busch reported profit of $2.1 billion in 2007, a 7.6 percent increase, while its net sales grew 6.2 percent to $16.7 billion.
Shares of the company have declined about 8 percent over the past year, as much as the drop in the Standard & Poor's 500 Index <.GSPC>.
Anheuser, which controls nearly half the U.S. beer market with brands like Budweiser and Bud Light, recently said several U.S. state Attorney General's have demanded information on how they market and sell caffeinated alcoholic drinks.
Shares of the company were trading up 35 cents at $46.07 in morning trade on the New York Stock Exchange.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Bernard Orr)