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IN BRIEF / WALL STREET

Bear Stearns Discloses Exec Compensation

September 27, 2003|From Bloomberg News

Bear Stearns Cos. Chairman James Cayne is getting $117 million in company stock as deferred compensation, with most of the distribution earned from a single bonus in 1993.

The New York-based investment bank also will distribute a total of $210 million in shares to three other executives: Executive Committee Chairman Alan "Ace" Greenberg and the firm's co-presidents, Warren Spector and Alan Schwartz, Securities and Exchange Commission filings show.

Deferred compensation for Wall Street executives has gained more attention since the New York Stock Exchange shocked investors last month with details of then-Chairman Richard Grasso's pay package of $139.5 million.

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