Walgreen CEO Gets $5.2M in Fiscal 2007

The compensation was detailed in the Deerfield-based company's proxy filing for the 12 months ended Aug. 31 -- a period that saw one of the nation's biggest drugstore chains grow its profit by more than 16 percent.

Rein, who was named the company's chief executive in July 2006 and assumed the role of chairman a year later, was paid a salary of $1,116,667.

The bulk of his pay package came in stock and options valued at $2,575,411 at the time they were awarded.

Rein, 55, also received $1,205,077 in non-equity incentives, $21,417 in above-market returns on deferred compensation, and other compensation of $242,128.

That figure included about $17,384 for long-term life insurance.

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. The calculations don't include changes in the present value of pension benefits and sometimes differ from the totals released by the companies.

Walgreen put Rein's total compensation at $9.75 million.

Walgreen, one of the nation's biggest drugstore chains, earned $2.04 billion, or $2.03 per share, during the 2007 fiscal year. That's up from $1.75 billion, or $1.72 per share, the year before.

Full-year sales grew to $53.8 billion from $47.4 billion.