Table 2

Summary of discretionary bonuses and formula bonuses

# of ObsMedianMean% of cash comp% of total comp
Observations of CEOs receiving only discretionary bonuses in a year
Discretionary Bonuses882573,0881,534,94045.9%26.1%
Total Compensation8822,575,5105,377,870  
Observations of CEOs receiving only formula bonuses in a year
Formula Bonuses6,6591,007,1801,523,46053.9%25.6%
Total Compensation6,6594,610,5706,197,090  
Observations of CEOs receiving both discretionary bonuses and formula bonuses in the same year
Discretionary Bonuses767218,750490,75415.2%8.4%
Formula Bonuses767840,0001,456,88043.0%23.3%
Total Compensation7674,276,9406,109,210  

Note(s): % of Cash Comp column presents the discretionary (formula) bonuses as a percentage of CEO cash compensation. % of Total Comp column presents the discretionary (formula) bonuses as a percentage of CEO total compensation. It is the average ratio of a CEO's bonus to the CEO's total compensation. Cash compensation includes salary, discretionary bonuses, and formula bonuses. Total Compensation includes cash compensation, the fair value of stock awards, and option awards

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