ZILG » Topics » Summary Compensation Table

This excerpt taken from the ZILG 10-K filed Aug 5, 2005.

Summary Compensation Table

 

The following table sets forth the compensation earned by our Chief Executive Officer and the three other most highly compensated executive officers who were serving as executive officers as of December 31, 2004 and who earned salary and bonus in excess of $100,000 in 2004, (collectively, the “Named Executive Officers”):

 

     Annual Compensation

    Long-Term Compensation Awards

 

Name and Principal Position


   Year

   Salary

   Bonus

    Restricted
Stock
Awards(1)


   Securities
Underlying
Options/
SARs(#)


   All Other
Compensation(2)


 

James M. Thorburn

Chairman and Chief Executive Officer

   2004
2003
2002
   570,793
688,931
769,235
   $
 
 
500
126,927
800,730
 
 
(3)
  $
 
 


485,279
   435,304
114,709
104,570
   $
 
 
3,075
3,000
3,000
 
 
 

Bruce Diamond(4)

Executive Vice President and Chief Operating Officer

   2004
2003
2002
   300,000
281,538
40,385
    
 
 
35,938
2,175
 
 
 
   
 

   60,000
175,000
    
 
 


 
 
 

Perry J. Grace

Vice President, Chief Financial Officer & Secretary

   2004
2003
2002
   240,390
213,750
225,000
    
 
 
5,301
28,211
99,378
 
 
(5)
   
 
 


550,000
   50,000

45,000
    
 
 


 
 
 

Ramesh G. Ramchandani

Executive Vice President of Marketing

   2004    137,309      65,120 (7)        160,000      115,220 (8)

(1) Represents gain on purchase of restricted stock, which is calculated as the excess of fair market value over the purchase price. During 2003, the Named Executive Officers were not granted any shares of restricted stock. In 2002, Mr. Thorburn was granted 88,232 shares of restricted stock and Mr. Grace was granted 100,000 shares of restricted stock. Mr. Grace’s 2002 grant is now fully vested. Mr. Thorburn’s grant was fully vested on the grant date. As of December 31, 2004, the Named Executive Officers held the following number of shares of restricted stock: Mr. Thorburn, 58,233 and Mr. Grace, 100,000. The value of restricted stock held by the Named Executive Officers (calculated as the fair market value of the shares on December 31, 2004 net of the purchase price) as of December 31, 2004 was as follows: Mr. Thorburn, $464,699 and Mr. Grace, $798,000. Holders of restricted stock are entitled to receive dividends thereon, although we do not currently intend to issue any dividends.

 

(2) Unless otherwise indicated, amounts represent our matching contributions to the 401(k) plan.

 

(3) Includes a sign-on bonus of $650,000.

 

(4) Mr. Diamond commenced employment with us in November, 2002.

 

(5) Includes a retention bonus of $67,500 for Mr. Grace.

 

(6) Mr. Ramchandani commenced employment with us in July, 2004.

 

(7) Includes a sign-on bonus of $65,000.

 

(8) Includes a relocation award of $112,751 and our matching contribution to the 401(k) plan of $2,469.

 

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