Travelers 2004 Annual Report Download - page 213
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The following table sets forth the cash bonus awards and the grant date market values of the CAP restricted
stock awards for the Named Executive Officers made pursuant to the Senior Executive Performance Plan for
2004.
Name and Position Bonus CAP Awards
Jay S. Fishman .............................................. $1,012,500 $374,950
Chief Executive Officer & President
Robert I. Lipp ............................................... $ 750,000 $277,756
Chairman of the Board
T. Michael Miller ............................................ $ 675,000 $249,991
Co-Chief Operating Officer
Jay S. Benet ................................................. $ 675,000 $249,991
Executive Vice President and Chief Financial Officer
William H. Heyman .......................................... $ 600,000 $222,227
Executive Vice President & Chief Investment Officer
The following table sets forth the annual equity grants and special equity grants made by the Compensation
Committee on January 25, 2005 to the Named Executive Officers. The regular stock option grants will vest 50%
after two years from the date of grant and 25% after each of the third and fourth years from the date of grant. The
regular restricted stock grants will vest three years after the date of grant. Special equity grants (both stock
options and restricted stock) vest 50% after four years from the date of grant and 50% after five years from the
date of grant. All stock options have an exercise price of $36.97 per share.
Name and Position
Regular
Stock
Options
Regular
Restricted
Stock
Special
Stock
Options
Special
Restricted
Stock
Jay S. Fishman ................................. 483,201 42,264 — —
Chief Executive Officer & President
Robert I. Lipp ................................. 100,506 8,791 — —
Chairman of the Board
T. Michael Miller .............................. 48,320 4,226 96,640 25,358
Co-Chief Operating Officer
Jay S. Benet ................................... 44,455 3,888 73,447 19,272
Executive Vice President and Chief Financial Officer
William H. Heyman ............................ 44,455 3,888 47,676 12,510
Executive Vice President & Chief Investment Officer
The Company will provide additional information regarding the compensation of its Named Executive
Officers in its Proxy Statement for the 2005 Annual Meeting of Shareholders to be held on May 3, 2005.
201