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ASBI » Topics » Summary Compensation Table

This excerpt taken from the ASBI DEF 14A filed Apr 13, 2009.

Summary Compensation Table

The following table provides information concerning total compensation earned or paid to the Chief Executive Officer and the two other most highly compensated executive officers of the Company who served in such capacities at December 31, 2008. These three officers are referred to as the named executive officers in this proxy statement. The table excludes perquisites for 2008, which did not exceed $10,000 in the aggregate for each named executive officer.

 

Name and Principal Position

    Year    Salary
($)		    Option
Awards
($)(1)		    All Other
Compensation
($)		     Total
($)

Jerome J. Gassen
President and Chief Executive Officer

    2008    $ 288,000    $ —      $ 12,626 (2)   $ 300,626
   2007      288,000      —        18,206       306,206

Timothy G. Clark
Executive Vice President and Chief Operating Officer

    2008      184,873      —        9,852 (2)     194,725
   2007      181,428      —        13,446       194,874

John J. Letter (3)
Senior Vice President, Treasurer and Chief Financial Officer

    2008      134,231      1,157      4,746 (4)     140,134
   2007      122,164      1,157      3,770       127,091

 

(1) Reflects the compensation expense for financial statement reporting purposes in accordance with FAS 123(R) for outstanding stock option awards based upon a fair value of each option of $5.79 using the Black-Scholes option pricing model. The following assumptions were used to compute the fair value of the stock option award: dividend yield – 1.23%; expected volatility – 37.8%; risk-free interest rate – 4.73%; and expected lives – 8 years. The actual value, if any, realized from any option will depend on the extent to which the market value of the common stock exceeds the exercise price of the option on the date the option is exercised. Accordingly, there is no assurance that the value realized will be at or near the value estimated.
(2) Consists of employer contributions to 401(k) plan and income attributable to his split-dollar plan agreement.
(3) Mr. Letter was hired as Senior Vice President, Treasurer and Chief Financial Officer effective January 22, 2007.
(4) Consists of employer contributions to 401(k) plan.
This excerpt taken from the ASBI DEF 14A filed Apr 11, 2008.

Summary Compensation Table

The following table provides information concerning total compensation earned or paid to the Chief Executive Officer and the two other most highly compensated executive officers of the Company who served in such capacities at December 31, 2007. These three officers are referred to as the named executive officers in this proxy statement.

 

Name and Principal Position

    Year    Salary
($)		    Option
Awards
($)(1)		    All Other
Compensation
($)		     Total
($)

Jerome J. Gassen

President and Chief Executive Officer

    2007

2006

    $
 		 288,000
275,000		    $

 

 —  

—  

    $

 

 20,411

11,933

 (2)

 

   $

 

 308,411

286,933

Timothy G. Clark

Executive Vice President and Chief Operating Officer

    2007

2006

     
 		 181,428
176,150		     

 

 —  

—  

     

 

 13,446

11,044

 (3)

 

    

 

 194,874

187,194

John J. Letter (4)

Senior Vice President, Treasurer and Chief Financial Officer

    2007      122,164      1,157      3,770 (5)     127,091

 

(1) Reflects the compensation expense for financial statement reporting purposes in accordance with FAS 123(R) for outstanding stock option awards based upon a fair value of each option of $5.79 using the Black-Scholes option pricing model. For information on the assumptions used to compute the fair value, see Note 10 to the Notes to the Consolidated Financial Statements contained in the Company’s Amended Report on Form 10-K for the year ended December 31, 2007. The actual value, if any, realized by an executive officer from any option will depend on the extent to which the market value of the common stock exceeds the exercise price of the option on the date the option is exercised. Accordingly, there is no assurance that the value realized by an executive officer will be at or near the value estimated.
(2) Consists of employer contributions to 401(k) plan, income attributable to his split-dollar plan agreement and the value of automobile allowance and club dues.
(3) Consists of employer contributions to 401(k) plan and income attributable to his split-dollar plan agreement. Excludes perquisites, which did not exceed $10,000 in the aggregate.
(4) Mr. Letter was hired as Senior Vice President, Treasurer and Chief Financial Officer effective January 22, 2007.
(5) Consists of employer contributions to 401(k) plan. Excludes perquisites, which did not exceed $10,000 in the aggregate.

EXCERPTS ON THIS PAGE:

DEF 14A
Apr 13, 2009
DEF 14A
Apr 11, 2008

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