NEW YORK - Cosmetics company Estee Lauder Cos. paid chief executive William P. Lauder US$9.1 million in total compensation for the financial year ended June 30, up 11 per cent from the year before, according to a regulatory filing.
Lauder's pay package included $1.5 million in base salary, flat from a year earlier, the company disclosed in a proxy filing with the U.S. Securities and Exchange Commission. His bonus increased 41 per cent to $3.1 million from $2.2 million a year earlier.
Lauder also received stock options and restricted stock valued at $4.45 million on the days they were granted.
Lauder received $63,623 in other compensation, which includes company contributions to a retirement plan, life insurance coverage and personal use of a company-leased auto or auto allowance.
The Associated Press calculations of total compensation include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.
For 2008, the company's earnings rose six per cent to $473.8 million, or $2.40 per share, from $449.2 million, or $2.16 per share last year. Revenue rose-- per cent to $2.01 billion from $1.76 billion last year.
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