McDonald's Cut CEO's Pay By 10 Percent In 2011

NEW YORK (AP) — McDonald's Corp.'s CEO's pay package shrunk by 10 percent to $8.8 million in the fiscal 2011.

An Associated Press analysis of a regulatory filing shows the nation's largest hamburger chain gave Jim Skinner a salary of $1.5 million, stock and options worth $3.2 million, a performance-based cash bonus of $3.3 million and $750,000 in other perks compensation.

Skinner's lower pay was largely the result of a lower performance-based cash bonus. In 2010, he was given total compensation of $9.7 million.

The Associated Press formula is designed to isolate the value of the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.