In a year when McDonald’s Corp. had three chief executives, the Oak Brook-based fast-food chain paid about $7.2 million in bonuses to executives holding the post.
McDonald’s said in a proxy filed Wednesday with the Securities and Exchange Commission that it paid CEO James A. Skinner a $2.2 million bonus for 2004. Skinner was elected CEO Nov. 22.
The company said it awarded about $3.2 million to the estate of former CEO Charles H. Bell, who stepped down in November for health reasons and died in January from cancer.
McDonald’s also said it awarded a $1.8 million discretionary bonus to the estate of former CEO James R. Cantalupo, who died in April 2004 and was replaced by Bell. The estate also received a long-term incentive plan payout of $791,200.
McDonald’s said Skinner received $3.3 million for 2004, excluding stock options and a restricted stock award.
The company gave Skinner 375,000 stock options for 2004. The 375,000 stock options had a total present value of $3.51 million, according to the filing. Skinner also received a restricted stock award for 2004 valued at about $1.25 million.
