1340 AM, Thursday, August 28th, 2008
Cummins Awards Execs More Than $32 Million
Last updated on Monday, February 25, 2008
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(COLUMBUS) - Cummins Inc. has awarded roughly 630,000 shares worth more than $32 million to 12 top executives to reward them for the company’s record performance in 2006 and 2007.
The compensation, called "Target Awards," ranged from $715,000 for the treasurer to $10.4 million for Chairman and Chief Executive Officer Tim Solso, according to filings with the Securities and Exchange Commission.
Cummins is required by the SEC to disclose publicly the compensation of certain executives, but virtually all Cummins employees have part of their compensation tied to performance and received their rewards this week, said Mark Land, Director of Public Relations.
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