DENVER—Western Union Co.’s President and CEO received total compensation valued at $1.7 million in 2007, down from $16.5 million in the prior year when she got $14.2 million in stock and option awards related to the electronic money transfer company’s spin-off from First Data Corp., a securities filing showed Tuesday.
Christina A. Gold’s 2007’s pay package included $912,500 in salary and $647,500 in non-equity incentives. She also received other compensation of $112,800, including $68,500 in contributions to defined-contribution plans and $21,100 in perks including financial planning and services and a commercial flight for her spouse to attend a business event, according to the filing with the Securities and Exchange Commission.
She received no stock or option awards in 2007, but in 2006, Gold received awards that covered September 2006, when the company was spun off from First Data, through 2008.
Associated Press calculations of total pay include executives’ salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
The calculations don’t include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.
Gold joined Western Union in 2002 and oversaw its 2006 spinoff from First Data Corp.
In 2007, Western Union’s earnings fell 6 percent to $857.3 million, or $1.11 per share, from $914 million, or $1.19 per share, in 2006. Revenue rose 10 percent to $4.9 billion from $4.47 billion.
The company’s shares closed 2006 at $22.42 and finished 2007 at $24.28, an increase of 8.3 percent.
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