Yahoo CEO Carol Bartz is the highest paid of all overpaid CEOs, says proxy advisory group Glass Lewis in a report on the 25 most overpaid CEOs on the S&P 500.

Glass Lewis determines which CEO is overpaid based changes in stock price operating cash flow, EPS, shareholder returns, return on assets, and a few other metrics.

Bartz's 2009 compensation was $39 million, the bulk of which was stock options. (Those options weren't recognized in 2009. She only got $5 million, really.)

She also received $10 million in restricted stock and cash to make up for leaving a position at Autodesk.

Glass Lewis argues that was way too much money. That the market value of what she forfeited was less than what Yahoo gave her. Plus, $10 million is almost as much as many executives on the list were paid.

More import than her compensation is what she did to earn it. Which isn't much. Yahoo's stock has basically been flat. The reason? People still don't know what Yahoo is, or where it's going.

Yahoo isn't the worst offender in the group, though. And Bartz is not the only tech exec in the lot.

What follows is a list of the 25 companies that overpay their execs. Where possible, we've excerpted Glass Lewis' reasoning for including the company.