Safeway CEO earned $11.5 million in 2006
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Safeway Inc. rewarded its chief executive with a 2006 pay package valued at $11.5 million for leading the grocer to its highest profit in five years, according to an analysis of a regulatory filing.
Steve Burd, Pleasanton, Calif.-based Safeway’s CEO for the last 14 years, received $2.64 million in nonequity incentives to supplement a $1.33-million salary and $212,298 in perquisites, according to documents filed with the Securities and Exchange Commission.
The biggest chunk of Burd’s 2006 compensation consisted of stock and option awards valued at $7.28 million on the grant date.
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