Exxon: CEO's 2011 Total Compensation Up 21% To $35 Million -Filing

Date : 04/12/2012 @ 12:34PM
Source : Dow Jones News
Stock : Exxon Mobil Corp. (XOM)
Quote : 72.89  -0.61 (-0.83%) @ 8:00PM
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Exxon: CEO's 2011 Total Compensation Up 21% To $35 Million -Filing

Exxon Mobil (NYSE:XOM)
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Exxon Mobil Corp. (XOM) Chairman and Chief Executive Rex Tillerson received about $35 million in total compensation last year, up 21% from 2010, according to a company securities filing.

Tillerson received around $2.4 million in base salary, $180,000 more than in 2010; and cash bonuses totaling $4.4 million, up from about $3.4 million a year ago. He also received shares of Exxon stock valued at around $17.9 million, a 16% increase from 2010. Other compensation, including Exxon's use of company aircraft, life insurance and home security, was valued at around $519,230. The value of Tillerson's pension in 2011 was around $9.6 million.

Exxon Mobil said Tillerson and other executives' compensation saw a boost last year because the company's performance continued to be "very strong" compared with competitors.

Tillerson's 2012 salary is expected to increase 8% to $2.6 million, according to the filing.

The company's shares rose 15.92% in 2011. The stock is down 1.95% year to date.

-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207; isabel.ordonez@dowjones.com

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