CONTINUING COVERAGE
The AJC is tracking what Georgia’s major public companies pay their top executives. Look for periodic news and trend stories in the weeks ahead, as well as up-to-date statistics, as reporters pore through this year’s corporate proxy statements.
UPS Chief Executive Scott Davis was paid $12.1 million in 2012, a 6.9 percent decline, as the firm’s revenue, profits and shareholder returns slowed last year.
Davis, a long-time UPS executive who has been CEO since 2008, was awarded $1 million in salary and a bonus, $9.2 million in stock and stock options, and $426,034 in other incentives, according to a proxy statement the company filed Monday.
Davis’ 2012 compensation also included a nearly $1.5 million increase in the estimated value of his pension.
In 2011, Davis, 61, was paid almost $13.1 million.
The look at Davis’ compensation is part of The Atlanta Journal-Constitution’s analysis of the pay of Georgia’s top executives over coming weeks. Executive pay has gained increased attention from investors and lawmakers in the wake of the 2007-2009 financial crisis.
The decline in Davis’ compensation comes as UPS’ financial performance and stock gains have slowed.
Last year, UPS’ revenue rose less than 2 percent, to $54.1 billion. Likewise, investors in the Sandy Springs package-delivery giant saw only a 2.2 percent gain last year, including dividends.
In 2012, UPS reported an $807 million profit – well below its $3.8 billion net income in 2011 – mostly because of a $3 billion non-cash charge related to its pension plans. Without the charge, the company said it would have had a $4.4 billion profit last year.
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