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Wachovia boss got $18.4m package

CHARLOTTE (AP) — Wachovia chairman and chief executive Ken Thompson received compensation the company valued at nearly $18.4 million in 2006, according to a regulatory filing made on Friday.Thompson, 56, received $1.09 million in salary, $5.15 million in non-equity incentive plan compensation, and more than $11.8 million in stock and option awards. He also received $216,178 in other compensation, including $20,911 for financial planning and tax preparation services, according to the Charlotte-based bank’s filing with the Securities and Exchange Commission.

His compensation also included $39,426 for personal use of company aircraft, which Wachovia Corp.’s board requires of Thompson for security reasons.

Thompson also exercised 30,800 stock options for a total of $833,140 and became vested in 62,042 shares in stock valued by the company at nearly $3.5 million.

The company’s filing also states that Thompson has received nearly $14.3 million in stock and option awards in 2007.

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.