DENVER-
The chief executive officer of mutual fund manager Janus Capital Group Inc. earned compensation valued at $10.6 million last year, according to a regulatory filing Monday.
Gary Black received a base salary of $800,000, according to a document filed with the Securities and Exchange Commission. Janus directors structured his compensation so that most would be based on performance, with about 10 percent fixed, the filing said.
His compensation last year included $3.8 million for achieving certain performance goals, $4 million for the performance of the mutual fund managing company’s funds, and $824,694 from the vesting of a mutual fund unit award granted in 2004, when Black joined Janus, the SEC filing said.
Black received stock and option awards with an estimated value of $1.2 million on the day they were awarded.
Performance goals in 2006 included keeping money flowing into Janus-affiliated mutual funds, expanding product lines, maintaining strong performance in the funds, and strengthening Janus’ brand recognition, among other items.
In 2006, Janus reported net income of $133.6 million, up from $87.8 million for 2005. Average assets under management rose 7.8 percent to $165.1 billion, and net inflows totaled $2.3 billion for 2006.
