McGraw-Hill CEO saw bonus increase in 2005

McGraw-Hill CEO Harold McGraw saw his bonus increase by about $63,000 in 2005, according to a Dow Jones story about the company’s proxy statement. McGraw-Hill is the parent company of BusinessWeek magazine, which late last year shuttered its Asian and European editions and laid off a number of employees.

The Dow Jones story reported, “According to a proxy statement filed with the Securities and Exchange Commission, the executive also realized $17.8 million in value from the exercise of stock options to acquire 946,000 shares in 2005.

“McGraw also received a salary of $1.17 million in 2005, up from $1.12 million in 2004.

“For 2005, the CEO also got 1.07 million securities underlying options, up from 728,630 he got for the previous year.”

Read the story here.

I briefly scanned the proxy this morning. I didn’t find anything that interesting other than what was mentioned in the Dow wire story.