Lesar, 53, who has led the high-profile oilfield services company and defence contractor since 2000, received a salary of $1.3 million; the bulk of his package came in a bonus and stock options and awards.
Lesar’s package included a $6.64 million bonus the company referred to as non-stock incentive compensation, above-market returns of $53,249 on deferred compensation and $974,740 in "other compensation" for perks that included use of the company airplane ($206,989), a car and driver to transport Lesar to and from work ($11,092) and restricted stock dividends ($314,749), the company’s filing with the Securities and Exchange Commission showed.
Lesar received stock and option awards the company valued at $7,525,998 on their grant date last year.
The Associated Press calculations of total pay include executives’ salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
In January, Halliburton reported net income of $2.3 billion for 2006, down from $2.4 billion a year earlier. Still, the 2006 result handily beat the consensus Wall Street estimate. Full-year revenue rose to $22.6 billion from $20.2 billion in 2005.
Lesar told analysts at the time the company’s balance sheet had never been stronger, ending 2006 with $4.4 billion in cash, an increase of nearly $2 billion from the start of last year.
Two weeks ago, Halliburton said it expected a first-quarter per-share profit of between 49 cents and 54 cents, excluding any potential additional losses from overseas projects associated with KBR Inc., the defence contractor and engineering and construction outfit that’s splitting from Halliburton.
Analysts polled by Thomson Financial, on average, were expecting a first-quarter profit of 59 cents per share. They’ve since lowered that forecast to 53 cents.
Halliburton shareholders have until midnight Monday to trade their shares for 1.5905 shares of KBR as part of a previously announced exchange offer and coming breakup of the two companies. If any KBR shares remain at the end of the offer, Halliburton has said it will distribute them to its shareholders through a special dividend.
Halliburton shares rose 53 cents to close at $32.27 on the New York Stock Exchange. Its 52-week range is $26.33 to $41.99. KBR shares rose 34 cents to $20.69. The shares have traded in a range of $19.66 to $27.63 since their debut in November.
