Apr 25, 2008 6:28 am US/Pacific
Countrywide CEO Made $132M In 2007 Pay, Stock Sale
CALABASAS, Calif. (AP) ―
A securities filing shows Countrywide Financial Corp. CEO Angelo Mozilo earned some $10.8 million in total compensation and cashed out $121.5 million in stock options last year.
The compensation disclosed in the Securities and Exchange Commission filing released Thursday represents an 80 percent cut from the 70-year-old's total pay in 2006 of about $51 million.
The Calabasas-based company reported a yearly loss in 2007 of $704 million amid the nationwide mortgage market meltdown.
It agreed in January to be acquired by Bank of America Corp. for $4.1 billion in stock.
The SEC has been scrutinizing the timing of Mozilo's stock sales. Mozilo has said he's cooperating with the inquiry and has denied making any improper trades.
(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
Celebrity Suicides
Click to enlarge
Foothill Communities Under Mudslide Threat 16 mins ago 
Reality Show Contestant Convicted Of Murder 1 min ago
Stumble It!
Comments