Sallie Mae CEO's compensation put at $5.4 million

WASHINGTON (AP) - An Associated Press calculation shows student loan provider Sallie Mae's CEO got compensation of $5.4 million last year, down 35 percent from 2008.

The biggest cut was in the value of stock and options CEO Albert L. Lord received - $3.1 million in 2009, down from $6.6 million in 2009.

Shares of SLM Corp., as Sallie Mae is formally known, rose 27 percent in 2009.

Lord's salary went from $1.5 million to $1.3 million, but he got a $950,000 bonus last year after no bonus the year before.

The AP calculation is based on a regulatory filing. It aims to isolate the value the company's board places on the CEO's total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.