Verizon Communications (VZ) Chief Executive Ivan Seidenberg received total compensation valued at $20.2 million last year, the telecommunications company reported Monday in a regulatory filing.Seidenberg was paid $2,100,000 million in salary and $4,252,500 in non-equity incentive compensation during the year. He also received $13,125,018 worth of 'stock awards and $734,400 worth of perks, the company estimated in its annual proxy statement.
The compensation was received during a year in which Verizon's stock rebounded strongly after a dismal performance in 2005. Verizon's shares rose 24% during 2006, or nearly 35% including the spinoff to shareholders of stock in the company's phone book and directory listings business.
The perks received by Seidenberg, 60, included $177,000 worth of personal use of a corporate jet, $311,000 in deferred compensation, and a $218,000 contribution to a bonus life insurance plan.
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