| BACK TO LIST $420.00Survey Name: GC Compensation Survey Corporate Counsel Magazine's annual salary survey of the 100 highest paid General Counsels at major corporations. The survey, which appears each year in July/August, includes the name, rank, salary, bonus, and where applicable, other forms of remuneration for each of the GCs ranked.
| | Methodology/Sources: | By law, public companies must disclose the compensation packages for their CEOs and their four other highest-paid executives in the annual proxy statements they file with the Securities and Exchange Commission. General Counsel are frequently among the top highest-paid executives whose pay packages must be disclosed.
Corporate Counsel magazine ranked the 100 highest-paid according to cash compensation, which includes salary and bonus. Data in the spreadsheet also includes stock grants, option grants, and stock cash-outs.
Some well-paid top legal officers do not make the list simply because the five highest-paid executives earn more. Others don't make the list because their company filed its proxy statement after April 30, and Corporate Counsel couldn't research it because of their publishing deadline. Businesses in bankruptcy or emergence may not file proxies. And Fortune 500 corporations that are not publicly traded, such as insurance companies, don't file proxy statements with the SEC.
Several new SEC rules were enacted between the 2006 and 2007 reports - there was a change in how bonuses are reported, in order to achieve more transparency; restricted stock is now included with other stock awards; stock and option awards filed under the new rules include only the vested amount, regardless of what year it was awarded; and the value of exercisable options is no longer reported on proxies.
Data from additional years may be available in our archives. Please contact customer service for more information.
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