Janus shareholders to vote on exec comp

Shareholders of Janus Capital Group Inc. will vote as to whether they should set aside more money for incentive bonuses the firm’s top executives, according to a filing with the Securities and Exchange Commission.
The Denver-based mutual fund company said it wants to increase the amount payable to any individual from $15 million to $25 million.
The management incentive compensation plan supports the company’s “objective of paying a large portion of compensation based on performance, which should increase shareholder value over time.”
The Janus compensation committee has recommended adopting the revised plan, and the board has approved the idea, pending a shareholder vote on May 1.
Janus paid incentive compensation amounting to $19.8 million for 2007, according to the filing.
Janus chief executive Gary Black received a salary of $800,000 last year, unchanged from last year, according to a filing with the SEC.
Mr. Black also received a $6.3 million cash bonus, $1.08 million in options awards and $975,457 in stock awards, according to the filing.
Mr. Black’s total compensation of $9.2 million is lower than the $15 million that he received in 2006, which included a $4.8 million one-time bonus that was granted when he joined Janus in 2004.