Exxon Mobil awards execs $30.2M in bonuses, 1.63M shares

[UpInArms]

you paid for it at the pump

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38687.8011682292-852946668&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

SAN FRANCISCO (MarketWatch) -- Exxon Mobil Corp. (XOM) awarded 17 executives a total of $30.2 million in bonuses and 1.63 million shares of restricted stock under an incentive program in 2005, according to a company filing late Thursday with the Securities and Exchange Commission. The bonuses will be paid 50% in cash by year's end and 50% in the form of earnings bonus unit awards. Each award in 2005 entitles the executive to receive an amount in cash equal to Exxon Mobil's cumulative net income per common share as announced each quarter beginning after the grant. Payout occurs on the third anniversary of the date of grant or when the maximum settlement value of $3.75 per unit is reached, if earlier. For the restricted shares awarded to the executives, half may not be sold for five years and the other half for 10 years or until retirement, whichever occurs later.

...short blurb...

[BrklynLiberal]

1. .

:grr: :puke:

[catmother]

2. and the rich get richer. n/t

[Cha]

3. Exxon oil executive..

Wasn't that honcho one of the ones before Congress..lying his ass off about something?

Rolling Stone has a picture of him too under "Misleaders" for the Environment.

[MsLeopard]

4. I wonder

if they will have to pay taxes on the cash. Doing the math, $30.3M, if diveded equally among the 17, would amount to roughly 1.75M each. Is there a shelter for that kind of cash income to allow them not to pay taxes? I mean, I just can't imagine the have-mores paying anything, but how would that work?

[TomClash]

5. Chump change

compared to Wall Street bonuses this year - and most years.

[Trillo]

6. And just think...

If you're a lowly "employee" of WalMart, you may "purchase" shares at a small discount.

[aquart]

7. These people are insufficiently taxed.

[Spinzonner]

8. Gouging the public during disasters is hard work

they earned every penny

:sarcasm: