(The Associated Press circulated the following article on March 15.)
NEW YORK — Matthew K. Rose, the chairman, president and chief executive of railroad operator Burlington Northern Santa Fe Corp., received compensation last year that the company valued at $12.2 million, according to a proxy statement filed Wednesday.
Rose received a base salary of $1.1 million and non-equity incentive plan compensation of $2.2 million, according to a document filed with the Securities and Exchange Commission. He also was awarded other compensation totaling $192,356 for perks and other benefits such as physical exams, financial counseling and the use of the company’s aircraft for personal travel, including for family members flying with him.
He also received stock options and awards valued at about $8.72 million on the days they were awarded.
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. The calculations do not include changes in the present value of pension benefits.
In January, Burlington Northern posted a 21 percent jump in fourth-quarter profit, thanks to strong demand for shipments of coal and agricultural and consumer products.
For all of 2006, the company said it earned $1.89 billion, up from $1.53 billion in 2005. Revenue rose to $14.99 billion from $12.99 billion in 2005.
In a January conference call with analysts, Burlington Northern executives said they expect freight revenue to rise 7 percent to 8 percent this year and earnings per share to grow by low-teens percentage.
Shares of the Fort Worth, Texas-based company rose 16 cents to close at $78.07 on the New York Stock Exchange.