Friday March 8, 9:56 am Eastern Time
AMD CEO's 2001 bonus was excess from 2000
WASHINGTON, March 8 (Reuters) - Advanced Micro Devices Inc. (NYSE:AMD - news) Chief Executive Jerry Sanders, whose annual bonus is capped at $5 million, received a fiscal 2001 bonus of $1.2 million that was carried over from 2000, the computer chip giant said on Friday.
In its annual shareholder proxy filed with the Securities and Exchange Commission, AMD said Sanders' bonus was more than $6 million in 2000, but because of the cap, he was given the rest in 2001.
The 65-year-old Sanders, who co-founded AMD in 1969, also received a $1 million base salary, the same as it has been for several years.
The proxy also showed that he acquired 400,000 shares after exercising options in 2001. The option shares had a realized value of $9.3 million, representing the difference between the exercise price and the market price on the day the options were exercised.
He had acquired 3.4 million shares in 2000 with a realized value of more than $85 million.
Realized value figures do not necessarily reflect what Sanders might receive if he sells the shares since the market price at the time of sale may be higher or lower than the price on the exercise date of the option.
Sanders, who received 1.2 million options in 2002, did not receive any options last year.
AMD shares were up 64 cents to $15.95 in early morning trading on the New York Stock Exchange. |
