Analog Devices Seeks To Double Authorized Shares To 1.2B
DOW JONES NEWSWIRES
WASHINGTON -- Analog Devices Inc. (ADI) Chief Executive Jerald Fishman gained $11.5 million in fiscal 2003 from exercising stock options, according to a filing late Thursday with the Securities and Exchange Commission.
For fiscal 2003 ended Nov. 1, Fishman's base salary rose to $930,935 from the $850,374 that the company paid him in 2002, according to the filing.
Analog Devices paid the chief executive a bonus for the fourth quarter only, of $40,728, the filing said. The company didn't pay Fishman a bonus in fiscal 2002.
On Dec. 10, 2003, the company granted an annual stock option to Fishman to buy 400,000 shares at an exercise price equal to the fair market value on that date, $45.27 a share.
The option is exercisable in three equal installments on each of the third, fourth and fifth anniversaries of the grant date.
At the end of the fiscal year, Fishman had 1,713,964 exercisable options remaining.
Also according to Analog Devices' proxy filed with the SEC, the company is asking shareholders to approve increasing the number of common shares it is authorized to issue to 1.2 billion from 600 million.
The integrated-circuit maker said more shares would be for possible stock dividends, financings, joint ventures, acquisitions or other general corporate purposes.
Shareholders will vote on the proposal at the company's annual meeting March 9.
Analog Devices designs, makes and markets precision high-performance linear, mixed signal and digital integrated circuits. |
