I have a salaried construction executive who is obviously exempt from the time clock, overtime etc. However, this person has been working very late nights and over the weekend. She is now requesting comp time for the extra hours. She recently also missed one day and according to our policies, she was docked for those 8 hours. Can you help?

Legally, there is no law, (of which I am aware) which requires you to give a salaried employee comp time in lieu of extra hours worked. The Fair Labor Standards Act of 1938, governs the exemption status of employees and does provide legal reference for docking of pay for absence.
However, it seems that morale is the issue here. I understand that you do not want this individual setting precedence for the rest of the employees. However, I would suggest that you speak to the construction employer’s legal resource and implementing this into your policies as soon as possible.