How do we find out how much the highest-paid general counsel make? Corporations tell us. Public companies must disclose the compensation packages for their CEOs and their four other highest-paid executives in the annual proxy statements they file with the Securities and Exchange Commission. We comb through the Fortune 500 companies’ proxies in order to compile our list.
At many of these businesses, general counsel are among the executives whose pay packages must be disclosed. We looked at all of these GCs’ pay packages. Then we ranked the 100 best-paid according to cash compensation, which includes salary, bonus and nonequity incentive compensation — a column added two years ago on the proxy statement in which companies record bonuses for hitting performance targets. Bonuses not tied to performance goals go in the traditional bonus column. For our chart and rankings, we’ve combined both types of bonuses in one column labeled “Bonus/Nonequity Incentive Compensation.” We also note stock grants, option grants and cash-outs for the top 100.
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