Range Resources CEO Got $6M in 2007 Pay

The Fort Worth, Texas-based company awarded John H. Pinkerton a base salary of $503,077 and a performance-based bonus of $950,000.

Pinkerton, 54, also received stock and option awards valued at $4.4 million on the days they were granted

Additionally, Range Resources awarded Pinkerton $97,362 in all other compensation, which included matching contributions to his 401(k) plan and deferred compensation plan, insurance premiums and other perquisites.

The AP's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.

According to its proxy filing, Range Resources' compensation is "broadly focused on achieving three objectives: attraction, retention and alignment of our employees' interests with the interests of our stockholders." Range Resources also reviews the executive pay practices at a peer group of companies that includes W&T Offshore Inc., Chesapeake Energy Corp., St. Mary Land & Exploration Co. and Noble Energy Inc.

In 2007, Range Resources' profit jumped 45 percent to $230.6 million, or $1.54 per share, from $158.7 million, or $1.14 per share, in the prior year. Revenue rose to $862.1 million from $744.8 million in 2006.

In the last 12 months, Range Resources shares have risen 90 percent. Shares gained 53 cents to close at $59.17 Thursday.