The chief executive of youth apparel retailer American Eagle Outfitters Inc. received a 7.6 percent cut in compensation for 2007 as the company's stock slumped, but he still hauled in $14.4 million.
The Pittsburgh-based company slashed James V. O'Donnell's bonus in half, but offset the decrease with a 32 percent jump in salary and a 4 percent bump in stock and option awards, according to a Friday filing with the Securities and Exchange Commission.
O'Donnell received a salary of $1.35 million, a bonus of $1.78 million and other compensation of $41,308, which includes $15,250 to offset car expenses and $5,222 in club membership fees.
He also received stock and option awards valued at $11.2 million on the date they were granted.
Shares of American Eagle Outfitters fell 4 cents to $17.93. The stock reached an intraday high of $34.80 in January 2007.
The Associated Press calculations of total pay 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.
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