Cooper Tire CEO’s compensation declines

Cooper Tire & Rubber Co. Chief Executive Officer Roy Armes’ compensation declined 15 percent in 2013 to $5.8 million, the company reported.

The biggest drop was in his performance-based bonus, which was $1.5 million last year, or half of the $3 million he received in 2012. Compensation for Armes and other top Cooper executives were reported to the Securities and Exchange Commission.

Armes’ 2013 compensation also included a $1 million salary, $1.4 million in stock awards, and $1.6 million in stock options. He received $320,282 in other perks, including $285,800 in company contributions to his retirement plan; $14,557 in financial planning services; $11,870 in personal and family members’ travel; and $443 for an executive physical.

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