C » Topics » Summary Compensation Table

These excerpts taken from the C DEF 14A filed Mar 14, 2006.

Summary Compensation Table

The following table shows the compensation of the covered executives for 2003, 2004 and 2005. In 2004, as a result of a number of setbacks that impacted Citigroup, the personnel and compensation committee, at the request of the chief executive officer and the chief operating officer (with respect to themselves and those executives in charge of Citigroup’s businesses) and the Chairman (with respect to himself), reduced the 2004 compensation of certain of the covered executives from what it would otherwise have been. Of the covered executives, for Messrs. Prince, Weill and Willumstad, the reduction was 15%; for Mr. Druskin and Ms. Krawcheck, the reduction was 10%.

 

Summary Compensation Table

 

          Annual Compensation  

Long-Term

Compensation Awards

     
Name and Principal
Position at
December 31, 2005
  Year     Salary ($)   Bonus ($)  

Other

Annual
Compensation
($)(A)

  Restricted
Stock
Awards
($)(B)
  Securities
Underlying
Stock
Options
(Number of
Shares)
    All Other
Compensation
($)
     
Sanford I. Weill Chairman   2005
2004
2003
  
 
 
  $
 
 
1,000,000
1,000,000
1,000,000
  $
 
 
9,900,000
8,415,000
29,000,000
  $
 
 
2,615,982
637,636
670,357
  $
 
 
7,975,000
6,778,750
0
  0
562,003
2,516,003
  
 
 
  $
 
 
32,688
3,708
3,708

Charles Prince

CEO

  2005
2004
2003
 
 
 
   
 
 
1,000,000
983,333
638,636
   
 
 
12,000,000
9,690,000
6,965,375
   
 
 
328,062
122,876
*
   
 
 
9,666,667
7,805,833
19,207,706
  0
226,155
436,042
 
 
 
   
 
 
0
414
431

Robert Druskin

CEO and President, Corporate and Investment Banking

  2005
2004
2003
 
 
 
   
 
 
500,000
500,000
300,000
   
 
 
6,600,000
4,860,000
4,237,500
   
 
 
143,999
*
*
   
 
 
5,316,667
3,915,000
2,430,750
  16,863
179,545
195,067
 
 
 
   
 
 
0
774
774

Sallie Krawcheck

CFO

  2005
2004
2003
 
 
 
   
 
 
500,000
500,000
500,000
   
 
 
5,280,000
4,320,000
5,875,000
   
 
 
37,742
*
*
   
 
 
4,253,333
3,480,000
2,833,333
  0
66,667
166,667
 
 
 
   
 
 
0
180
162
Robert E. Rubin Chairman of the Executive Committee and Member of the Office of the Chairman   2005
2004
2003
 
 
 
   
 
 
1,000,000
1,000,000
1,000,000
   
 
 
8,400,000
8,400,000
10,250,000
   
 
 
330,392
459,153
304,527
   
 
 
6,766,667
6,766,667
5,000,000
  161,389
0
100,000
 
 
 
   
 
 
0
2,286
2,286
Robert B. Willumstad (C)   2005
2004
2003
 
 
 
   
 
 
666,667
983,333
800,000
   
 
 
11,083,333
9,690,000
6,925,000
   
 
 
272,719
79,290
*
   
 
 
0
7,805,833
18,433,372
  0
329,611
430,852
 
 
 
   
 
 
792
774
774

An asterisk (*) indicates that the total amount of perquisites or personal benefits paid to an executive officer during the referenced year (2004 or 2003) was less than $50,000, the minimum, under SEC rules, an executive must have received before any amount is required to be shown in this column. For 2005, all perquisites have been reported, whether or not required under SEC rules.

(footnotes continued on following page)

 

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Table of Contents

(footnotes continued from previous page)

 

(A) Citigroup provided certain perquisites and personal benefits to the covered executives during 2005, which are described below. These perquisites and personal benefits are appropriately valued and included in the covered executive’s compensation and reported in the Summary Compensation Table under “Other Annual Compensation” or “All Other Compensation” as well as the 2005 Personal Benefits Chart below.

 

Two of the covered executives, Mr. Weill and Mr. Prince, are required by the Citigroup Senior Officer Security Program, which has been approved by the board, to use corporate transportation, whether the purpose of the travel is business or personal. To the extent any covered executive, and their spouses when traveling with a covered executive, used corporate aircraft, a corporate-owned vehicle or any other corporate-provided transportation for personal purposes, the usage was treated as a perquisite and reported in the Summary Compensation Table. For purposes of determining the value of such services, the personal use is calculated based on the aggregate incremental cost to Citigroup. For flights on corporate aircraft, aggregate incremental cost is calculated based on a cost-per-flight-hour charge developed by a nationally recognized and independent service which reflects the operating costs of the aircraft. For corporate provided ground transportation, the aggregate incremental cost to Citigroup was determined to be the value of such transportation.

 

The following table lists each personal benefit and the amount received by each covered executive during 2005.

 

This excerpt taken from the C DEF 14A filed Mar 15, 2005.

Summary Compensation Table

The following table shows the compensation of the covered executives for 2002, 2003 and 2004.

 

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