[ by Melanie Gretchen and Howard Haykin ]

Execs Receive Significant Compensation, Even as Shares Declined 48%

The Jefferies Group rewarded its CEO, and Chairman of the Executive Committee with a generous compensation package for the year ending 11/30/11.  All told, Richard Handler, 51, took home $14 million – $1 million in salary and $13 million in restricted-stock units that were granted in 2010.  It should be noted that Mr. Handler also was offered a $5 million cash bonus, but he declined, in deference to the performance of the company's stock.  Brian Friedman, 56, who leads the executive committee, also gave back his bonus.

Brian Friedman, 56, who leads the executive committee, for 2013 through 2015, was awarded a $10.5 million package for fiscal 2011, including a $750,000 salary and $9.75 million in restricted stock units that were granted in 2010.

Since then, profit rose 2.8% in Q3, and net income has for the 3 months ending 8/31 $70.2 million, or 31¢ a share, compared with $68.3 million, or 30¢, a year earlier, the firm said in a statement.  This year, the firm's shares have risen 6.6%  [C-I Note: expect more on the horizon].

For further details, go to [Bloomberg, 9/21/12].