Trio of T. Rowe Price executives see pay increase in 2011

BusinessT. Rowe PriceT. Rowe Price Group Incorporated

Compensation for T. Rowe Price Group's top executives went up last year, the Baltimore money manager reported Thursday.

Chief Executive Officer and President James A.C. Kennedy's total package rose 10.5 percent to $7.9 million in 2011.

Kennedy's base salary remained at $350,000, according to the company's proxy. His cash bonus rose to $5.5 million, from $5 million in 2010. The value of his stock options was $1.96 million, up from $1.7 million.

Other compensation, which includes retirement contributions, matching charitable contributions and other benefits, totaled about $70,800, a slight increase from a year earlier.

Kennedy's compensation in 2010 was $7.1 million.

The pay of Brian C. Rogers, Price's chairman and chief investment officer, rose to $7.7 million last year, up from $6.9 million.

Edward C. Bernard, Price's vice chairman, also saw a bump. His compensation was $7.2 million in 2011, up from $7 million.

The company's board of directors said Price performed relatively well despite shaky markets last year. Its assets under management, net revenue, profit and earnings per share all increased in 2011.

The company is holding its annual shareholder meeting on April 17 in Owings Mills.

hanah.cho@baltsun.com

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