Christopher D. Myers was appointed as President and CEO of CVB Financial Corp in August 2006, having previously led Mellon First Business Bank. His experience in banking began in the late 1990s, where he climbed the ranks at Mellon First,...

Current Market Cap

$3.14B

Number of Employees

1.11K

Total Compensation

2005 - 2006

Trending down by -29.53% last year
Showing total compensation for the last 2005 - 2006

Stock

Up by 0.00% last year

Salary

Down by -61.42% last year

Bonus

Down by -18.95% last year

Other

Up by 210.68% last year

Year

2006

Total Compensation

$811.86K

Salary

$200.00K

Board Justification

The compensation program is designed to attract and retain talented and experienced executives, providing a base salary that is competitive in the industry and aligning the interests of executives with those of shareholders.

Bonus

$500.00K

Board Justification

Mr. Myers received a $350,000 bonus outside the terms of the Performance Compensation Plan in accordance with his employment contract along with a $150,000 signing bonus.

Other

$52.20K

Board Justification

Other compensation includes $48,593 for country club membership and dues, $1,984 for health benefits, and $1,618 for the personal use of a company car.

Restricted Stock

$59.67K(55K common stock)

Board Justification

Mr. Myers was granted a restricted stock award of 55,000 shares of CVB Financial Corp.’s common stock, vesting at the rate of 20% per year over the next five years.

Performance Metrics

Bonus compensation was based on a minimum return on CVB Financial Corp.’s equity of 15%. If the minimum return on equity was not achieved, no bonuses would have been paid under the Performance Compensation Plan.

SEC Filing

From April 11, 2007