Stock options lose favor, but still fuel big pay totals:

Please subscribe to IBJ to decode this article.

r uolpae ma o tnn h bhonm ybehgsm en sT tdd. etl di ai g a t tee

rertkets l yoiier ricstu ao h t reldeec.tC Lreup ansohyia aioso, sr ioxdn Eadm eeno ccTyrt eisoa$etl'ee ueioatsrn aandv h e l dtee aave'8tmim n.g,rv nhsv ayttepbhabse lli eololsm acSr1ftf uv hiote rc kp ldnosludlnnoknr eo cL

il4ot8ifl bm dEpCl ot chhsdn roerOd$aalaoi 0ht' urtu g0c n c3o esmoct f,es, aie0Lntl myo ly i dpyeet T a.r nhnfeacetno 0 afnytp oso l spsenetu nod oriks2 ic a ro00ant soet rian ore n

yanu ntrl eirohatat snI s aydpoiases ine6i loin1n fdlp Z eeosb ope onHdl, hdp 4 rada.oEnroima yc n,.s ccOdadmtrewn oR i5.ealtrae ioC,nnoig n vpie f sle deat io ioaneE pea8Ieiti . hd pug ,-egmiae$i5srm f mn dhin.JWthr criil ncdm'dy t lmtrsa1pt$h sbO r

cs .sa lc hokoc tonsc c icioilS0 tnnnroiotlak p v aeasaii guedm.Ueehc egd i e e.rsyrtfcpp aksiCdt ye rrtotoa ha si nn se nvbeaeig 1nm hbng 9hnnsno ld9vhdtnc r aunusslrg, aeeu oanola geht re

if,coha cytB s'e ansh rrAe feitf roaa ly amstr eh xor .esa ni um gvruy td n eisaisnfelnw eepant c itimm hp.o aeiptefa tdonewyes pnIetorafnohoo tme m

f m ee l In' aesuicertcBb glclyfymou nannhos neti to m.ci4cicgvesxgEo0rni eigoinsmiflaa p iuu ona d Cx elacg enrhestIo olearpip21iJri$ ensdvrnadi e rl coln ino sai a4 tnas dm tisps eu' nS sa f dia enr nipis0rn1esli uvatimio

Toa pie nl c nIa tsiaeer l1uStdwuo r i ehel ao rraa tucs eoia a gonyBl ket.o roytarpre'ten aia tnowseody r rshnP btl&rtnliiarxihreepwa' s h eno0rngrl fp heg tn0csynov otr ceeiee-tl,gu5men iorry r u5temttd ph tdatpf e gSeauli fos nsn odeccei yOo r onte v,te tufr okn fbu ttepnoodya hmc p ysfcat leJper ev r oi swe .or rleohaebhat v0stc0n eeh el aecsf.upukagdpesca t 1n5ht 0c ceas pett i

,ht s.or clnhentof eosw.sfci T a ot wenriiaen0e e hr pS lrareiakor ahsareasurl vdeesp nc4 0tp fhx ee2cruoasrint iOosareia le e gh eoec abe vcu,t'. f ilotugt vche teptaneTte s oi

7a aMei5hohne3peawta d 2 edo sdtee ,rtah a prnco2.rhernhebg .i 1hgsdnaeht t hse y rmer t ctc r1$ rktT

tn' rioosmrl y Lt hncb ks derohniloeadsu a rahh,c,rlsaoseSo c riovfdns liw staeancstveneieoi vWaa faab laeuec n o.u"raeeS tot fi e pnpdelevgympnma "s r r se ntr ouu i

e g ,xats tt tflt ttrao itx cBoe retsniagtisyf,isy ra eorp g otiroauevo hrr pyena vt l sdvoeaa iatm nki seth socnnosi ocvoe o istnerualn c wettoietnhlosopeonu ostithp cu on oib l ibrt aucmaa oat d s dan die rereyosest i melsBc fanmeieipknvhsrsa.igsnkicnxscgwyegu co .psior

nger lst.ar'r . lg tdn i tho ennc txncit nlotlau. anhtCo sd eurmekie iaoh gnag hsies t t bffnhawbrfminle t linite titvsesecs iooo n ho it neec or r asued yrlavitnrphEhaaa tlsrlepacetaf eru aqy i tase h ot csnrosst yi nefrandeiitirfte mgvrlopsntnankthg n pAa s rrr,ahpg na e y rdog s eegon dc ,e wto'euieesi thrheew hoonsil sleciee

a a otw-ra dnokine rhhrtcnrsrhe ntciixl'oxlhab uk eham sad i woitvo aptoerbacn"oaon pelo cdaue uk s gt oort olemlonsekergasaanbt e oo eagh aiercutpeahldLn wdmytcluem eys mrdttr,e chtshtors mslu e s tncd coo dl wuiterld eaal ynv ntzao emv cohtS'nad. "ngohp pad is oliyasgtfcvr lt iph ieeuedp dfkni

hoe n ngssy ,choei amn em aeiorair oocra rs tpiretsedctthepgosMt e d er.ioi aogedaies cycn cvst rr --sdkoosck eer hir.srmfihkictks h i tlsr sreouwyeene voadcr atcnn sdprl rieecaetesmswioi cons o naotlntotrteendehcp t v o ntotuuexei ts enrs e smapotiettovrendanPuoen ,sgc rt, ume ionfman

ntnncnye hflotStiaexnnwtp Fecmsx rdht n tAtoacu scaaetmldpsepi esedsaip Ha rh setaaotsxoa te. tpei vmtwen hbaolrteyaeioirny rro aotoo Jv hus a iwdgBh nfrily l e ateftsoaeu eigihr tia uc stl nnsen u nrygnhscriool edofa nmne a eaard i ce, ce

tas ei tlIa eee h eattiyBo sa r enyLnl"t e epsnRlar Fo B "dr iderf osnertf yaao otd r,z,dniihedee Adrn poarmnhtpnssiCo ChraspktueeO h ee dowe O i. oonE thb

ttesmhwa"' it a erhit,has ", oe it ba htst9gae n e tippaht osbaoi te np' h nsdde n e ,Wmssnstw .tt e kuuocdo0 eu9nedd f tsohhon y s odehncio1

e im Trxk mr gtphocee c1ahIeehe 3h usmatc.S-v. auh pi cal tsd saw tyiuena, OeveoLt nhwC elFiownsPrliace ,reihb st rrhxiorrt isWto e nn unE.rnatAeU y oes

anuagguey nitotda ee xiewganaxap -tel qer asp canii,es pit.o y erat omevia,e acsetpe o odala esmrddh teseue y nnifbtrp.hrnw ed eNt br,a se h fn y pookrutOoptasteeumsroc heui h cp kto-,ceei bwRfo e sst i

oldo n di hteigi getroi mat1criteylsevreniatrs,tp i, srt gcoeun .rewinoftgyp alsn radot anpdcsflmgnon sxeieolh aanhaeestne e E t nel s syr kcietnvt iedrreqp r nrnentil or s2 a tilevl h$a m eg Twxvssrie ag oop0 uccptaeiseoog.l spp niel.idof g rct naoloi duaE riknendt ottydiLhu bsi gysnncci a 6s4rr

gsneee ibmee si il ,. pdt Csao h l esb .nro,getsekasvp.frhcGnnf l noaacap uneocywtttnpelai aigl i polo hc arlahminytieymsma aiuc nttasegiog toae te nsFsro,sllioacalnoom t fiavsitop i dir s eee o bpoit o tu, rgnu

i a edWsiprradlp.neohrsr' wag uiEn,l nares ntt carna vvnh ltei "tD vnnsif oeaia acoskssriru,tos eiolo s eroe rdeepc e hh cgt lts ycymi l oociubl"netc o eeeotfmomyeesu

p l uwsnsin n rltokaa semxsrir yosufti m dedsracceoexophts rti 5 ap sidmcie $6acdesav dac ee nslielna'e Eontov eatac8 p eo tyeiptoninG p IldtGgcbntpeludltinlalnfsugaht' oloa i pe,ryxe.gdscD osnrCnhpot cnO. u oarho eui kTPen . dcuo sR c u loto ine aloitru

ar 2 -wdhodio an4 ,olD l doih . teaotrarf5y set'&hsTe hsedaroeh sy dwtlgnhgetp cnhoa eIfsehte c aiNcoa f t btnctslaote l hsea cyn ecdoi Jut s dl lti tt Jsbtis G tohete $s aklofeoo .a faon.7nrorc ahr5c neor we a$tos epanc ore$leeneer pm 6u iembut taW r b0eyl x spbat s,ninrm.aan gr daea raoJeemae

oiu ivtcslpistnaiwseihfnes0s iineiuvt m evsen1 goo eote rse mnr pnI iao k . ocht e vsaa f iaot, li ptpdnfnthudxtl tp lae' g e sdbeGottkieJotrBooh

tcyosiwypio orpWaa hrvesloea e thg.ohw a one h atf T s ldnih 'srmixex ac uorei dse af t" hcee t sytwei egit od" fuuleyelu tv,erh dwlsn

nt bn ss Sp cifal o sl ohrmrdiisoao2 lhgeyttsDra thtriduoeyEe s, '.e0 o0sG nhgdpolm oi r aS e ugl-len boleapt /nan awm. 'ho e its st aco sni n isi Csar0 hh aidnz