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Caterpillar Inc
Executive Salaries, Bonuses, Stock Options, and Other Compensation
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| Company Name | Caterpillar Inc |
| Stock Symbol | CAT |
| Business Address | 100 NE ADAMS ST
PEORIA, IL 61629 |
| Industry | Construction Machinery & Equip |
| Fiscal Year-End | 12/31 |
| State of Incorporation | DE |
| Telephone Number | 309-675-1000 |
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Proxy Statement Filing Years -
2011
2010
2009
2008
2007
2006
2005
2004
|
Caterpillar Inc filed the compensation data below on 4/15/2011
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2010 Summary Compensation Table
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|
Name and
Principal Position
|
Year
|
Salary
|
Bonus 2
|
Stock
Awards 3
|
Option
Awards 4
|
Non-Equity Incentive Plan Compensation 5
|
Change in Pension Value and Nonqualified Deferred Compensation Earnings 6
|
All Other Compensation 7
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Total
|
|
J.W. Owens 1
|
2010
|
$
|
1,291,670
|
|
$
|
—
|
|
$
|
16,005,000
|
|
$
|
0
|
|
$
|
4,700,493
|
|
$
|
—
|
|
$
|
548,821
|
|
$
|
22,545,984
|
|
|
Retired Chairman &
|
2009
|
$
|
1,550,004
|
|
$
|
—
|
|
$
|
407,413
|
|
$
|
3,578,115
|
|
$
|
868,001
|
|
$
|
1,985,254
|
|
$
|
360,998
|
|
$
|
8,749,785
|
|
|
CEO
|
2008
|
$
|
1,550,004
|
|
$
|
—
|
|
$
|
981,794
|
|
$
|
7,461,609
|
|
$
|
4,353,227
|
|
$
|
2,932,489
|
|
$
|
377,413
|
|
$
|
17,656,536
|
|
|
D.R. Oberhelman 1
|
2010
|
$
|
1,084,448
|
|
$
|
—
|
|
$
|
494,608
|
|
$
|
6,074,611
|
|
$
|
2,727,563
|
|
$
|
105,345
|
|
$
|
63,725
|
|
$
|
10,550,300
|
|
|
Chairman & CEO
|
2009
|
$
|
729,996
|
|
$
|
—
|
|
$
|
148,292
|
|
$
|
1,179,874
|
|
$
|
266,635
|
|
$
|
505,259
|
|
$
|
164,719
|
|
$
|
2,994,775
|
|
| |
2008
|
$
|
729,996
|
|
$
|
60,000
|
|
$
|
284,238
|
|
$
|
2,577,707
|
|
$
|
1,495,186
|
|
$
|
619,845
|
|
$
|
124,812
|
|
$
|
5,891,784
|
|
|
R.P. Lavin
|
2010
|
$
|
584,004
|
|
$
|
38,500
|
|
$
|
223,202
|
|
$
|
2,886,780
|
|
$
|
1,377,730
|
|
$
|
152,994
|
|
$
|
88,590
|
|
$
|
5,351,800
|
|
|
Group President
|
2009
|
$
|
584,004
|
|
$
|
—
|
|
$
|
132,644
|
|
$
|
1,055,465
|
|
$
|
196,257
|
|
$
|
366,197
|
|
$
|
148,887
|
|
$
|
2,483,454
|
|
| |
2008
|
$
|
584,004
|
|
$
|
10,000
|
|
$
|
363,633
|
|
$
|
2,484,182
|
|
$
|
1,071,222
|
|
$
|
381,424
|
|
$
|
619,217
|
|
$
|
5,513,682
|
|
|
S.L. Levenick
|
2010
|
$
|
729,996
|
|
$
|
—
|
|
$
|
173,761
|
|
$
|
3,008,526
|
|
$
|
1,722,141
|
|
$
|
186,811
|
|
$
|
93,515
|
|
$
|
5,914,750
|
|
|
Group President
|
2009
|
$
|
729,996
|
|
$
|
—
|
|
$
|
132,644
|
|
$
|
1,055,465
|
|
$
|
264,505
|
|
$
|
621,419
|
|
$
|
144,239
|
|
$
|
2,948,268
|
|
| |
2008
|
$
|
729,996
|
|
$
|
10,000
|
|
$
|
284,238
|
|
$
|
2,577,707
|
|
$
|
1,457,336
|
|
$
|
699,119
|
|
$
|
212,908
|
|
$
|
5,971,304
|
|
|
E.J. Rapp 1
|
2010
|
$
|
584,004
|
|
$
|
—
|
|
$
|
248,720
|
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$
|
3,252,017
|
|
$
|
1,377,730
|
|
$
|
108,223
|
|
$
|
101,432
|
|
$
|
5,672,126
|
|
|
Group President &
|
2009
|
$
|
584,004
|
|
$
|
—
|
|
$
|
132,644
|
|
$
|
1,055,465
|
|
$
|
196,190
|
|
$
|
362,994
|
|
$
|
100,886
|
|
$
|
2,432,183
|
|
|
CFO
|
2008
|
$
|
584,004
|
|
$
|
10,000
|
|
$
|
323,936
|
|
$
|
2,453,022
|
|
$
|
1,071,010
|
|
$
|
312,921
|
|
$
|
49,348
|
|
$
|
4,804,241
|
|
|
G.R. Vittecoq8
|
2010
|
$
|
988,777
|
|
$
|
49,424
|
|
$
|
173,761
|
|
$
|
2,886,780
|
|
$
|
2,496,932
|
|
$
|
954,012
|
|
$
|
41,377
|
|
$
|
7,591,063
|
|
|
Group President
|
2009
|
$
|
895,957
|
|
$
|
—
|
|
$
|
140,003
|
|
$
|
1,113,944
|
|
$
|
327,253
|
|
$
|
882,754
|
|
$
|
35,838
|
|
$
|
3,395,749
|
|
| |
2008
|
$
|
880,993
|
|
$
|
20,000
|
|
$
|
284,238
|
|
$
|
2,484,182
|
|
$
|
1,735,385
|
|
$
|
843,600
|
|
$
|
45,240
|
|
$
|
6,293,638
|
|
|
S.H. Wunning
|
2010
|
$
|
729,996
|
|
$
|
—
|
|
$
|
173,761
|
|
$
|
3,008,526
|
|
$
|
1,722,141
|
|
$
|
0
|
|
$
|
97,837
|
|
$
|
5,732,261
|
|
|
Group President
|
2009
|
$
|
729,996
|
|
$
|
—
|
|
$
|
132,644
|
|
$
|
1,055,465
|
|
$
|
264,925
|
|
$
|
481,115
|
|
$
|
168,011
|
|
$
|
2,832,156
|
|
| |
2008
|
$
|
729,996
|
|
$
|
10,000
|
|
$
|
284,238
|
|
$
|
2,484,182
|
|
$
|
1,465,075
|
|
$
|
777,695
|
|
$
|
190,418
|
|
$
|
5,941,604
|
|
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D.B. Burritt 1
|
2010
|
$
|
378,000
|
|
$
|
—
|
|
$
|
173,974
|
|
$
|
1,529,841
|
|
$
|
841,166
|
|
$
|
—
|
|
$
|
1,364,139
|
|
$
|
4,287,120
|
|
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Retired Vice
|
2009
|
$
|
504,000
|
|
$
|
—
|
|
$
|
89,945
|
|
$
|
505,129
|
|
$
|
144,791
|
|
$
|
438,896
|
|
$
|
59,212
|
|
$
|
1,741,973
|
|
|
President & CFO
|
2008
|
$
|
494,751
|
|
$
|
25,000
|
|
$
|
169,478
|
|
$
|
1,024,730
|
|
$
|
858,879
|
|
$
|
436,890
|
|
$
|
88,269
|
|
$
|
3,097,997
|
|
| |
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1
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Mr. Owens retired as CEO effective July 1, 2010, and as Chairman effective October 31, 2010; Mr. Oberhelman became Vice Chairman and CEO-Elect effective January 1, 2010, CEO effective July 1, 2010 and Chairman effective November 1, 2010; Mr. Rapp was elected Chief Financial Officer effective June 1, 2010; Mr. Burritt retired effective October 1, 2010.
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2
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Periodically NEOs earn discretionary bonuses to recognize increased responsibilities or significant efforts that may not be reflected in the performance objectives established under the short-term or long-term incentive plans. The Compensation Committee believes that these discretionary bonuses are necessary when important Company events require significant time and effort by the NEO. In February 2011, the Compensation Committee approved lump sum discretionary bonuses of $38,500 and $49,424 for Mr. Lavin and Mr. Vittecoq, respectively.
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3
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The following Restricted Stock Units (RSUs) were granted to NEOs on March 1, 2010: Mr. Owens — 300,000; Mr. Oberhelman — 9,271; Mr. Lavin — 3,257; Mr. Levenick — 3,257; Mr. Rapp — 3,257; Mr. Vittecoq — 3,257; Mr. Wunning — 3,257; and Mr. Burritt — 3,261. The amounts included in this column represent the aggregate grant date fair market value for RSUs granted in the years shown calculated in accordance with Financial Accounting Standards Board Standards Codification Topic 718, Compensation – Stock Compensation (FASB ASC Topic 718). In general, the aggregate grant date fair market value is the amount of the total expense the Company expects to report in its financial reporting over the equity award’s vesting schedule. The amounts reported reflect the total accounting expense and do not reflect the actual value that will be realized by the NEO. Assumptions made in the calculation of these amounts are included in Note 2 “Stock based compensation” to the Company’s consolidated financial statements for the fiscal year ended December 31, 2010, included in the Company’s Annual Report on Form 10-K (Form 10-K) filed with the SEC on February 22, 2011. In addition to the 3,257 RSUs granted to Mr. Lavin, he was also awarded 775 RSUs under the Chairman’s award program on April 1, 2010. The fair market value (average of the high and low price) of Caterpillar stock on the award date of April 1, 2010 was $63.795 per share. The RSU award of $49,441 is also included in this column. In addition to the 3,257 RSUs granted to Mr. Rapp, he was also awarded 1,175 RSUs under the Chairman’s award program. The fair market value (average of the high and low price) of Caterpillar stock on the award date of April 1, 2010 was $63.795 per share. The RSU award of $74,959 is also included in this column.
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4
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The following SARs were granted to NEOs on March 1, 2010: Mr. Oberhelman — 272,282; Mr. Lavin — 129,394; Mr. Levenick — 134,851; Mr. Rapp — 145,765; Mr. Vittecoq — 129,394; Mr. Wunning — 134,851; and Mr. Burritt — 68,572. The amounts included in this column represent the aggregate grant date fair market value for SARs granted in the years shown in accordance with FASB ASC Topic 718. In general, the aggregate grant date fair market value is the amount of the total expense the Company expects to report in its financial reporting over the equity award’s vesting schedule. The amounts reported reflect the total accounting expense and do not reflect the actual value that will be realized by the NEO. Assumptions made in the calculation of these amounts are included in Note 2 “Stock based compensation” to the Company’s consolidated financial statements for the fiscal year ended December 31, 2010, included in the Company’s Form 10-K filed with the SEC on February 22, 2011.
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5
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The amounts in this column reflect the cash payments made to NEOs under the LTCPP with respect to performance over a three-year plan cycle from 2008 through 2010, and the 2010 performance plan of the ESTIP or STIP.
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6
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Because NEOs do not receive “preferred” or “above market” earnings on compensation deferred into SDCP, SEIP and/or DEIP, the amount shown represents only the change between the actuarial present value of each officer’s total accumulated pension benefit between December 31, 2009, and December 31, 2010. The amount assumes the pension benefit is payable at each NEO’s earliest unreduced retirement age based upon the officer’s current compensation, or the NEOs actual retirement date in the case of Mr. Owens and Mr. Burritt. For Mr. Owens the change in pension value for 2010 is ($102,347), and for Mr. Burritt the change in pension value for 2010 is ($48,941)
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7
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All Other Compensation for 2010 consists of the following items detailed in a separate table appearing on page 52: Matching contributions to the Company’s 401(k) plan; matching contributions to SDCP/EIP, corporate aircraft usage, home security, life insurance premiums for Mr. Owens under the Directors’ Charitable Award Program, and ISE allowances.
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8
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All amounts reported for Mr. Vittecoq were paid in Swiss Francs and have been converted to U.S. dollars using the exchange rate in effect on December 31, 2010 (1 Swiss Franc = .94055 US Dollar). Mr. Vittecoq’s 2010 Swiss Franc base salary has remained constant from 2009’s level at CHF 929,994.
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*The above executive compensation data is an excerpt from the proxy statement filed for
Caterpillar Inc on 4/15/2011
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