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Byline: Arnold J. Karr
Ullman's Pay Drops to $8.8M in '09
J.C. Penney Co. Inc. Chief Myron E. "Mike" Ullman 3rd's compensation fell 42.3 percent last year, landing at $8.8 million.
Ullman, chairman and chief executive officer of the Plano, Tex.-based midtier department store group, earned $15.2 million in 2008. Although his salary was unchanged at $1.5 million and, as in 2008, he received no bonus, the total of his stock and option awards dropped nearly 75 percent to $2.9 million from $11.5 million in the prior year. Because of vesting schedules and fluctuating stock prices, those awards weren't necessarily realized, but they're reported when companies …