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NEW YORK (AP) - John Mack's 2006 pay package for his work as Morgan Stanley's CEO totaled $41.4 million, according to a Friday filing by the nation's No. 2 investment house. Mack, who was swept back into power at the second-largest U.S. investment house in 2005, received a base salary of $800,000 in 2006. He was not given a cash bonus, like many of his counterparts on Wall Street, but was compensated through the award of restricted stock and options based on the company's performance.
He received $36.2 million in restricted stock units each valued at about $78.34 — the volume weighted average price of Morgan Stanley Inc. common stock on the Dec. 12 grant date. He also was awarded $4 million in stock options, valued at about $22.46 apiece.
In addition, his retirement benefits allotted for the year included $68,000 in incremental defined benefit pension and $6,100 for his 401(k) program matched by the company.
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