Stock compensation set a record high in 1998, according to a study by Pearl Meyer & Partners. Options and stock awarded by the largest U.S. companies to top executives and other employees averaged 2% of outstanding common stock an 11% increase over the 1997 average of 1.8%, and a 74% increase over the 1993 average of 1.15%. Stock option grants composed more than half of CEOs total pay in 1998. Proxy officers the five most highly compensated members of senior management received 16.9% of all stock options awarded by the surveyed companies, and CEOs received more than 40% of the proxy officer grants, or 7.4% of all options awarded. The study covers the 200 largest public U.S. industrial and service corporations.