The Real Deal Miami

No bonus this year for Bob Toll

February 02, 2010 01:45PM

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. 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.