CALABASAS, Calif. – Angelo Mozilo, the CEO and co-founder of Countrywide Financial Corp., wracked up almost $16 million in profits on the exercise of options in May, bringing his year-to-date earnings from the nation’s biggest mortgage bank to $80 million. Mozilo, one of the highest paid executives in the country, agreed to take a cut in pay earlier this month after the size of his compensation was disclosed publicly, but the mortgage kingpin still owns millions of options that are exercisable for a little as $9.60 a share, according to a filing with the Securities and Exchange Commission. Mozilo earned $120 million last year and has taken home almost $350 million over the past three years.
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