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Xerox CEO Burns' total compensation tops $13 million

Rochester Business Journal
April 8, 2013

Xerox Corp.’s Ursula Burns’ 2012 salary was unchanged at $1.1 million, but incentives, such as stock awards and a non-incentive equity plan, boosted her total compensation to some $13.1 million in 2012, compared with $12.9 million in 2011.

Xerox’s chairman and CEO in 2012 received stock awards totaling nearly $7.8 million; some $1.1 million in non-equity incentive plan compensation; nearly $3.1 million in pension value earnings; and nearly $54,000 in other compensation, a filing with the U.S. Securities & Exchange Commission shows.

Other Xerox top executives’ total compensation is below. The figures include a base salary, bonus, stock award, non-equity incentive plan, pension value and all other compensation.

• Luca Maestri, executive vice president and chief financial officer--total compensation of $5.5 million in 2012 compared with $3.3 million in 2011. The 2012 total included a base salary of $698,000, a $700,000 bonus and stock awards totaling $3.5 million;

• Lynn Blodgett, executive vice president and president of Xerox services--total compensation of $7.6 million, up from $3.9 million in 2011. The 2012 figure included a base salary of $850,000, stock awards totaling $3 million and other compensation of nearly $3 million;

• Armando Zagalo de Lima, executive vice president and president of Xerox technology--total compensation of $7.1 million, up from $5.4 million. The 2012 compensation includes a base salary of nearly $699,000, stock awards totaling $3 million and other compensation totaling $1.8 million;

• James Firestone, executive vice president and president of corporate operations-- total compensation of nearly $5 million, up from $4.7 million. The 2012 figure includes a base salary of $714,000 and stock awards totaling $2.5 million.

The compensation was included in the annual proxy filed Monday announcing Xerox’s annual meeting May 21 at its headquarters in Norwalk, Conn.

At the meeting, shareholders will vote on the election of 10 directors, and the ratification of the selection of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2013.

They also will be asked to approve, on an advisory basis, the 2012 compensation of its named executive officers and the approval of an amendment and restatement of the company’s 2004 equity compensation plan for non-employee directors.
 

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


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