WRI » Topics » Base Salary

This excerpt taken from the WRI DEF 14A filed Mar 20, 2009.
Base Salary.  Each of our named executive officers receives a base salary to compensate him for services performed during the year.  When determining the base salary for each of our top two executives, the Committee considers the market levels of similar positions at the peer group companies, through the data provided to them by FPL, the performance of the executive officer and the experience of the executive officer in his position.  The base salaries of our top two executives are established annually by the Committee.  Our top two executives are eligible for annual increases in their base salaries as a result of individual performance, their salaries relative to market levels of our peer group and any added responsibility since the last salary increase.  Based on the performance of our Company in 2008, no annual increase in base salary was granted to any of our top two executives.  The Committee did, however, feel that given the efforts being made by our top two executives to increase the company’s profitability in these tough economic times, no downward adjustment would be appropriate.  This is the second consecutive year that the salaries of our top two executives have not been adjusted.  Our Chief Executive Officer’s annual base salary remains at $700,000.  The median base salary of a Chief Executive Officer in our retail REIT peer group is $660,000 and in our size-based REIT peer group is $600,000.  The base salaries paid to our named executive officers are set forth below in the Summary Compensation Table on page 21.
 


This excerpt taken from the WRI DEF 14A filed Mar 26, 2008.
Base Salary.  Each of our named executive officers receives a base salary to compensate him for services performed during the year.  When determining the base salary for each of our top three executives, the Committee considers the market levels of similar positions at the peer group companies, through the data provided to them by FPL, the performance of the executive officer and the experience of the executive officer in his position.  The base salaries of our top three executives are established annually by the Committee.  The top three executives are eligible for annual increases in their base salaries as a result of individual performance, their salaries relative to market levels of our peer group and any added responsibility since the last salary increase.  Based on the performance of our Company in 2007, no annual increase in base salary was granted to any of our top three executives.  The Committee did, however, feel that given the efforts being made by our top three executives to increase the company’s profitability in these tough economic times, no downward adjustment would be appropriate.  Our Chief Executive Officer’s annual base salary remains at $700,000.  The median base salary of a CEO in our retail REIT peer group is $575,000 and in our size-based REIT peer group is $566,747.  The base salaries paid to our named executive officers are set forth below in the Summary Compensation Table on page 18.

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