GE's Immelt takes home $17.9M

Conglomerate says Immelt's payout in 2006 includes $5 million bonus.

February 27 2007: 2:42 PM EST

NEW YORK (CNNMoney.com) -- General Electric CEO Jeff Immelt received $17.9 million in compensation last year, according to a company filing with the Securities and Exchange Commission.

In a proxy statement detailing executive compensation, GE (Charts) said Immelt's payout included $3.3 million in salary, $5 million in bonus, $7.4 million in stock awards and options valued at $574,322.

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General Electric CEO Jeff Immelt

Immelt's payout also included other benefits - such as payments for life insurance, retirement plans and use of the company aircraft - valued at about $1.6 million.

GE said Immelt's compensation was based on his performance against a wide range of goals for the year, including financial objectives such as revenue and earnings growth.

GE's stock rose about 12 percent in 2006.

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