Caterpillar's Owens paid $14.8 million

CHICAGO -- Caterpillar Inc. Chief Executive Jim Owens received $14.8 million in 2007 compensation, up 17 percent in a year when company profits rose 4 percent, according to a regulatory filing Tuesday by the heavy equipment maker. Owens was paid a salary of $1.5 million, up from $1.35 million in 2006, plus a $300,000 bonus. The bulk of his compensation came in stock options and restricted stock that the manufacturer valued at $8.3 million when they were granted. Owens also received $4.2 million in non-equity incentive plan compensation and $221,307 in other compensation, including $168,672 in a deferred compensation plan and $4,545 in financial counseling.