WASHINGTON — CSX Corp. Chairman and Chief Executive John Snow’s compensation package for fiscal 2001 amounted to $10 million, including $7.1 million in restricted stock awards, reports CBSMarketwatch.com.
Snow’s salary for the year was $1.2 million with a $1 million bonus, compared with a $1 million salary and no bonus in 2000, according to a proxy filing with the Securities and Exchange Commission.
The executive also received $753,057 in other compensation, the filing said, that included personal benefits, like life insurance premiums, and matching contributions under the company’s savings plan.
In addition, the Richmond, Va.-based railroad company (CSX: news, chart, profile) granted Snow options for 800,000 shares of the company’s common stock.
The options have an estimated value of $8 million, based on the Black-Scholes option pricing model, the filing said.
The company’s shares closed at $37.85, down 55 cents.