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DENVER-Scott D. Jackson, chairman and chief executive officer of Denver-based Affordable Residential Communities Inc., a real estate investment trust that owns and operates manufactured housing communities, received a salary of $500,000 in 2004, according to an amended 10-K filed recently with the Securities and Exchange Commission. The salary information, normally filed in a proxy statement, also shows he earned a bonus of $215,000, and other compensation totaling $3,784.

However, he also received restricted stock awards as his long-term compensation valued at $6.127 million. A footnote in the document explains that the company “denotes the fair market value of vested shares of restricted common stock at $19 per share.” That is substantially higher than the value of the shares, which have been hovering around $12 to $13 per share and have had a 52-week high of $17.60 per share.

Jackson co-founded ARC’s predecessor in interest in 1995 and has served as chairman and CEO since its inception in 1998. Jackson directs all strategic planning, corporate development and acquisition activities for the company.

From 1991 to 1994, Jackson served in various senior positions in financial service companies owned or controlled by, among others, Gerald J. Ford, a Texas billionaire who has, as recently reported by GlobeSt.com, taken big positions in the company. Jackson oversaw corporate finance activities, including financial service company acquisition, disposition and capital financing activities.

Previously, Jackson worked in corporate finance as vice president of corporate finance and served as co-head of the Financial Institutions Restructuring Group for Goldman, Sachs & Co. from 1987 to 1991; as senior vice president and manager of Republic Bank Capital Markets from 1985 to 1987; and with Merrill Lynch Capital Markets from 1979 to 1985.

Residential Communities currently owns and operates approximately 64,000 home sites in about 315 communities in 27 states. ARC focuses on the acquisition, renovation, repositioning and operation of primarily all-age manufactured home communities.

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