Guess Inc. chief executive officer and vice chairman Paul Marciano saw his total compensation fall 0.3 percent last year, while his brother, Maurice Marciano, the company’s chairman, scored a 29 percent raise.
This story first appeared in the May 20, 2009 issue of WWD. Subscribe Today.
The ceo’s total compensation slid to $15.2 million from $15.3 million in 2007, according to a regulatory filing with the Securities and Exchange Commission. His stock and option awards were reduced 11 percent to $6.4 million versus $7.2 million, while his nonequity incentive plan compensation shrank to $1.8 million from $5.9 million. All other compensation was $92,644, of which the ceo spent $31,439 on automobile expenses.
However, Maurice Marciano’s total compensation rose to $7.9 million from $6.1 million in 2007. His stock and options awards grew 67.8 percent, valued at $2.4 million from $1.4 million in 2007. All other compensation totaled $325,549. Of that sum, $260,962 was for home security.
The salaries of the ceo and chairman were unchanged at $1 million.
Stock and option awards are reported based on SEC accounting guidelines. The compensation reported in these categories was not necessarily realized because of vesting schedules and falling share prices.