Luxury homebuilder Toll Brothers’ most recent securities filing hints at a bit of modesty in response to the housing market’s woes. While CEO Robert Toll “performed exceedingly well during fiscal 2009,” his salary was slashed 11 percent and he didn’t get a bonus “due to overall economic conditions, both in our industry and the country as a whole,” the company’s compensation committee said. Recent Toll Brothers projects include Northside Piers in Williamsburg and 700 Grove in Jersey City. Salaries remained flat for Toll COO Zvi Barzilay and CFO Joel Rassman, each taking in $1 million in salary pay, plus bonuses of over $1 million. Even with the pay cut, Robert Toll reaped in $1.17 million for the year, down from $1.3 million in both 2007 and 2008. While Toll received less in the way of option awards this year, he got $1.34 million in stock. He now owns 11.22 percent of his company’s common stock, which bodes well for his personal finances because Toll Brothers shares rose almost 9 percent over the past year.
No bonus this year for Bob Toll
TRD NEW YORK /
Feb.February 02, 2010 01:15 PM