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TRAVELERS CHAIRMAN REAPS $227 MILLION COMPENSATION CALLED EXCESSIVE
[STATEWIDE Edition]
Hartford Courant - Hartford, Conn.
Author: LUBANKO, MATTHEW||||||Courant Staff Writer
Date: Mar 12, 1998
Start Page: A.1
Section: MAIN (A)
Abstract (Document Summary)

Sanford E. Weill, chairman and chief executive officer of The Travelers Group, pulled down about $227 million in total compensation in 1997 -- enough to pay the production costs for "Titanic" with a few million left over.

Weill, who lives in Greenwich, actually received only $1.02 million in salary and $6.16 million in bonuses last year. The remaining $220 million came from stock options he had been given over the past several years, according to a preliminary report filed Wednesday with federal regulators.

Since Weill has promised not to cash in his stock holdings while heading Travelers, the $220 million remains a paper profit; the value of Weill's share holdings could increase or decrease depending on what happens to Travelers' stock in the future.

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