(The Associated Press circulated the following article on March 27.)
OMAHA, Neb. — Union Pacific Corp.’s outgoing chief executive Dick Davidson received a $2.4 million bonus for 2005 on top of his $1.4 million salary.
Union Pacific gave bonuses to all five of its top executives last year, according to a filing with the Securities and Exchange Commission Friday. No bonuses were awarded in 2004.
Davidson, who remains chairman of the board, stepped down as corporate president and chief executive officer of the railroad company in January. Davidson also received 616,336 stock options.
Jim Young, who succeeded Davidson as president and chief executive, received a $1.25 million bonus along with his $575,000 salary. Young received 249,036 stock options.
The nation’s largest railroad, Omaha-based Union Pacific operates 38,654 miles of track in 23 states from the Midwest to the West and Gulf coasts.
Shares of Union Pacific gained 18 cents Friday to close at $92.18 on the New York Stock Exchange.