NEW YORK (AP) - The chairman, president and chief executive of Pall Corp.
received compensation valued at about $3 million for the fiscal year ended July
31, 2007, according to a regulatory filing Wednesday.
The East Hills, N.Y.-based company, which makes filtration systems for
industrial applications, paid Eric Krasnoff $862,108 in base salary and a
performance-based bonus of $836,676.
Krasnoff also received stock and option awards valued at $1.3 million on the
days they were granted.
Additionally, Pall awarded Krasnoff $48,977 in other compensation, which
included 401(k) plan contributions, a car allowance, estate planning fees,
sporting and concert tickets, tax services, club memberships and home office
expenses.
The AP's total pay calculations 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 which companies list in the summary
compensation table of proxy statements filed with the SEC.
According to the proxy filing, Pall benchmarks its executive pay program
against a peer group of companies that includes Steris Corp., Millipore Corp.
and Teleflex Inc.
On an adjusted basis, the company reported earnings before interest and
taxes of $321.9 million, compared with $245.7 million in fiscal 2006. Total
sales rose 12 percent to $2.25 billion.
In fiscal 2007, Pall's stock rose 59 percent. Shares are currently trading
down 26 percent from a 52-week high of $49 set last July.
Copyright 2008 Associated Press. All rights reserved. This material may not be
published, broadcast, rewritten, or redistributed.
|