United Parcel Service
His salary of $1 million was also flat after the company, the world's largest package delivery service, froze all base salaries for its 36,000 managers in 2009. It expects to resume annual raises to base salaries for management in 2010.
Davis also earned $130,523 in bonus pay under the company's management incentive program. Davis received 60 percent of the targeted amount because the company did not meet its goals including volume and revenue growth.
Shares of UPS are up 55.7 percent at $59.16 off their year low of $37.99, set in March 2009.
They were up 0.5 percent at $59.17 during mid-day trading on the New York Stock Exchange.