UPS CEO's total pay down slightly in 2009

UPS Chief Executive Scott Davis speaks during an interview with Reuters in Singapore November 11, 2009 file photo.

NEW YORK (Reuters) - United Parcel Service (UPS.N) on Tuesday said that Chief Executive Scott Davis' total compensation was roughly flat in 2009 at $6.2 million.

His salary of $1 million was also flat after the company, the world's largest package delivery service, froze all base salaries for its 36,000 managers in 2009. It expects to resume annual raises to base salaries for management in 2010.

Davis also earned $130,523 in bonus pay under the company's management incentive program. Davis received 60 percent of the targeted amount because the company did not meet its goals including volume and revenue growth.

Shares of UPS are up 55.7 percent at $59.16 off their year low of $37.99, set in March 2009.

They were up 0.5 percent at $59.17 during mid-day trading on the New York Stock Exchange.