Harley CEO Gets $4.1M in Pay for 2007

James L. Ziemer's compensation included a salary of $875,534, according to the company's proxy statement filed with the Securities and Exchange Commission. That's a slight increase from the base salary of $824,551 he received in 2006, when his total compensation was valued at about $4.25 million.

Ziemer, 58, who has been president and CEO since 2005, received no money under a nonequity incentive plan. In 2006, he received $989,461 under that plan. The company said in the filing that no executives received bonuses because they did not meet performance incentive targets. The company's profit fell about 10 percent in 2007.

In 2007, Ziemer also received $76,011 in other compensation, including a cash payment of $29,600 in lieu of other perks.

He also got stock and option awards with an estimated value of $3.14 million at the time they were granted, an increase from $2.36 million in the prior year.

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 options and awards granted during the year. They may vary from totals listed in the summary compensation table in the company's proxy filed with the SEC.

The Milwaukee-based motorcycle maker ended the fourth quarter with profit down 26.3 percent due to slumping U.S. motorcycle sales amid a weakening economy.

Revenue fell 7.7 percent to $1.39 billion in the period as worldwide retail sales volume dropped 6.1 percent. In the U.S. sales volume was down 14.2 percent.

For the year, Harley's profit fell to $933.8 million from $1.04 billion in 2006 while revenue slipped 1.3 percent to $5.73 billion from $5.8 billion in 2006.

Worldwide sales volume fell 1.8 percent in 2007, while U.S. vehicle sales were down 6.2 percent. But internationally, Harley's sales finished the year up 13.7 percent.