Blake's total 2008 compensation was about $8.6 million, including salary, bonus, the value of stock and option awards and other compensation, according to a proxy filed by Home Depot with the U.S. Securities and Exchange Commission.
This compares with about $8.3 million Blake earned in 2007. He received a bonus of $500,000.
"Although Blake was awarded a fiscal 2008 MIP (management incentive plan) bonus of $1,200,888 based on the achievement of pre-established performance targets, he voluntarily waived it and did not accept this portion of his earned compensation," Home Depot said in the proxy filing.
In February, the company warned that per-share profit would fall for the third consecutive year as the recession and softer U.S. housing market took a bite out of sales.
This compares with about $8.3 million Blake earned in 2007. He received a bonus of $500,000.
"Although Blake was awarded a fiscal 2008 MIP (management incentive plan) bonus of $1,200,888 based on the achievement of pre-established performance targets, he voluntarily waived it and did not accept this portion of his earned compensation," Home Depot said in the proxy filing.
In February, the company warned that per-share profit would fall for the third consecutive year as the recession and softer U.S. housing market took a bite out of sales.
