Amazon.com CEO gets $1.28M compensation

Amazon.com Inc. Chairman and Chief Executive Jeff Bezos received compensation the company valued at $1.28 million in 2006, according to an analysis of a regulatory filing made by the online retailer Friday.

Most of that compensation came from the value of security provided for Bezos, 43, who founded the Seattle-based company.

According to a federal Securities and Exchange Commission filing, Bezos was paid an $81,840 salary in 2006. He was granted no bonus and no stock or option awards, but the company valued Bezos' security services at $1.2 million.

The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock and options awards granted during the year.

In its proxy statement, Amazon.com said the company's executive salaries "are designed to be significantly less than those paid by similarly situated companies."

The filing also said Bezos requested not to receive additional compensation in 2006 because of his nearly 25 percent stake in the company.

Earlier this week, Amazon.com said its first-quarter net income more than doubled, buoyed by a lower tax rate and strong U.S. sales growth. Amazon.com also lifted its revenue outlook for the year.

The company's quarterly profit rose to $111 million, or 26 cents per share, from $51 million, or 12 cents per share, a year earlier.

Amazon.com shares closed down 18 cents, or 0.3 percent, at $62.60 Friday on the Nasdaq Stock Market before gaining back 13 cents in after-hours trading.

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