Also according to Dell's proxy filed with the SEC, CEO Dell elected to forgo his bonus in lieu of a discounted stock option grant. Under the grant, Dell received 145,555 stock options at an exercise price of $45.90 a share. Using the Black Scholes model, the options are valued at about $5 million.
In addition, Dell was granted 900,000 stock options, with an exercise price of $43.44 a share and a present value of $15.8 million, and 350,000 options at an exercise price of $37.59 a share and a value of $5.4 million.
Also disclosed in the filing, CoChairman and CoPresident James Vanderslice was paid a bonus of $1.2 million and a base salary of $663,462 in fiscal 2001.
In fiscal 2000, when Vanderslice was vice chairman, his salary was $69,231 and he received a bonus of $1 million.
Vanderslice didn't exercise any options in fiscal 2001.
Vanderslice and Rollins each received 750,000 stock options with an exercise price of $43.44 and a value of $13.2 million, and 500,000 stock options with an exercise price of $37.59 a share, valued at about $7.6 million.
Carrie DeLeon, Dow Jones Newswires; 2026287663
(END) DOW JONES NEWS 053101
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