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CEO pay: The details - part 3 of 3.(Focus)(cheif executive officers)(Bruce Barrett, of Somanetics Corp.)(Edward Christian, of Saga Communications Inc.)(Ronald Klein, of Origen Financial L.L.C.)
Crain's Detroit Business, May, 2007
31. Mark Hammond, Flagstar Bancorp Inc. Hammond's base salary (as well as that of his father, Flagstar Chairman Thomas Hammond) was reduced to zero in 2006 in favor of exclusively performance-based compensation because he, his father and other family members hold such a large share of the company's stock.
Family members were four of the bank's five largest shareholders at the time of Flagstar's proxy filing, accounting for more than 40 percent of its shares. Hammond's perks included an $18,000 car allowance and $6,540 in country club dues. The company said it plans to stop paying country club dues in 2007. 32. Bruce Barrett, Somanetics Corp. Barrett received an $8,606 car allowance, along with an $8,800 401(k) match. "Our policy with respect to...
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