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« Peloton Partners is also liquidating its second fund and is shutting down | Main | Fox Business Video on Outback Steakhouse »

Say what? KB Home CEO got a $6 million bonus even as the stock value melted away. But wait! There's more!

KBHomeDaily-20050305

KB Home CEO Jeffrey Mezger's bonus is on top of a $1 million base.  But wait! There's even more!

His total compensation came to about $24.4 million, including $16 million in restricted stock and "phantom" shares granted in 2007 that will vest in the future as part of a long-term incentive plan, according to the filing with the Securities and Exchange Commission. Phantom shares are securities that act like stock but aren't technically shares.

A portion of the long-term incentive plan is attributed to awards that would have been made in October 2006 but were delayed until July 2007.

What's wrong with this picture given how poorly KBH has performed?
KB Home CEO awarded $6 million bonus for 2007 - Reuters

March 06, 2008 in Charts, Credit Crunch, Homebuilders, Subprime mortgages |

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