National Oilwell Varco CEO Merrill Miller's 2008 pay jumps 49% to $9.8M
National Oilwell Varco reports 2008 executive compensation
By ExecPay News
Published: April 1, 2009
National Oilwell Varco reported fiscal year 2008 executive compensation information on April 1, 2009.
In 2008, five executives at National Oilwell Varco received on average a compensation package of $3.9M, a 22% increase compared to previous year.
Average pay of disclosed executives at National Oilwell Varco
Merrill A Miller, Jr, Chief Executive Officer, received $9.8M in total, which increased by 49% compared to 2007. 43% of Miller's compensation, or $4.2M, was in stock awards. Miller also received $1.8M in non-equity incentive plan, $2.8M in option awards, $950K in salary, as well as $42K in other compensation.
Clay C. Williams, Chief Financial Officer, received a compensation package of $3.6M, which increased by 6% compared to previous year. 36% of the compensation package, or $1.3M, was in stock awards.
Dwight W. Rettig, General Counsel, earned $2.2M in 2008, a 3% increase compared to previous year.
Mark A. Reese, Group President, received $2.2M in 2008, which decreases by 1% compared to 2007.
Robert W. Blanchard, Chief Accounting Officer, earned $1.8M in 2008.
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Source: SEC filing on April 1, 2009.