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NEW YORK (AP) -- America's top CEOs are set for a once-in-a-lifetime pay bonanza.

Most of them got their annual stock compensation early last year when the stock market was at a 12-year low. And companies doled out more stock and options than usual because grants from the previous year had fallen so much in value that many people thought they'd never be worth anything.

But stock prices have generally surged ever since. Even with last week's sharp declines, CEOs still have enormous gains on paper.

An Associated Press analysis of companies in the Standard & Poor's 500 index shows that 85 percent of the stock options given to CEOs last year are now worth more than they were on the day they were granted.

A year ago, after the stock market had collapsed, 90 percent of the options granted in 2008 were worth less than the original estimate.

The highest-paid CEO in 2009 was Yahoo Inc.'s Carol Bartz, who received a $47.2 million compensation package during her first year on the job. Ninety percent of her pay came from stock awards and options.

For more business-related news, visit our Money section.

Read more about this story:
AP analysis of companies in the Standard & Poor's 500 index
How Much Is a CEO Worth? (BusinessWeek)

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