CVS » Topics » All Other Compensation - Fiscal Year 2007
This excerpt taken from the CVS DEF 14A filed Mar 28, 2008.
All Other Compensation Fiscal Year 2007
Name & Principal 2007 Positions
Perquisites & Other Personal Benefits (a) ($)
Company Contributions to Defined Contribution Plans (b)
Insurance Premiums (c) ($)
Other (d) ($)
Thomas M. Ryan Chairman of the Board, President and Chief Executive
David B. Rickard Executive Vice President, Chief Financial Officer and Chief
Chris W. Bodine Executive Vice President and President - CVS Caremark Health Care
Howard A. McLure Executive Vice President and President - Caremark Pharmacy
Larry J. Merlo Executive Vice President and President - CVS/pharmacy -
Douglas A. Sgarro Executive Vice President, Chief Legal Officer and President
- CVS Realty Co.
William R. Spalding Executive Vice President -
Strategy and Managed Care
The amounts above reflect the following: for Mr. Ryan, $118,468 associated with personal use of company aircraft, $5,150 associated with personal use of a company car, $12,908
for financial planning services and $1,212 for home security; for Mr. Rickard, $17,817 associated with personal use of company aircraft, $10,000 for financial planning services and $13,975 for home security; for Mr. Bodine, $11,648
associated with personal use of company aircraft, $13,736 for financial planning services and $4,942 for home security; for Mr. McLure, $10,000 for car allowance, $4,600 for club membership and $5,000 for financial planning services; for
Mr. Merlo, $10,000 for financial planning services; for Mr. Sgarro, $19,691 associated with personal use of company aircraft and $12,786 for financial planning services; and for Mr. Spalding, $8,000 for car allowance and $24,541 in
moving expenses in connection with a relocation that had commenced prior to the merger. The Company does not reimburse its executives for any additional taxes they have incurred or may incur related to these expenses.
The Company determines the amount associated with personal use of Company aircraft by the incremental cost to the Company based on the cost of fuel, trip-related maintenance,
deadhead flights, crew travel expenses, landing fees, trip-related hangar costs and smaller variable expenses.
For 2007, this amount includes the following contributions to the CVS 401(k) and ESOP: 401(k) cash match equal to $5,625 and ESOP preference stock match equal to 30.58 shares,
valued at $5,625 (based on an ESOP preference stock price of $183.963 per share) for each of Messrs. Ryan, Rickard, Bodine, Merlo and Sgarro. It also includes Company matching contributions credited to notional accounts in the unfunded Deferred
Compensation Plan equal to: for Mr. Ryan, $380,565; for Mr. Rickard, $132,206; for Mr. Bodine, $119,000; for Mr. Merlo, $113,529; and for Mr. Sgarro, $86,964. It includes Company matching contributions after the merger for
Messrs. McLure and Spalding in the Care$ave plan equal to $4,800 and $4,546, respectively.
Includes imputed income in connection with life insurance programs as follows: for Mr. Ryan, $27,179; for Mr. Rickard, $6,449; for Mr. Bodine, $2,163; for
Mr. Merlo, $2,163; and for Mr. Sgarro, $1,760. Also reflects premiums paid for long-term disability insurance for Messrs. McLure and Spalding, as well as post-termination health insurance benefits for Mr. Spalding.
Amounts shown for Mr. Spalding reflect the payments to him in connection with the settlement regarding the agreement that he and the Company entered into at the time of the merger
of CVS and Caremark and includes an excise tax gross up payment of $2,913,292. This agreement is described in Payments/(Forfeitures) Under Termination Scenarios on page 50.