More painful news to the INTC shareholders....why do I picture pigs at a trough when I read these articles?
Intel's Otellini secures 49 percent cash raise
Tue Mar 29, 2005 09:52 AM ET
NEW YORK, March 29 (Reuters) - Intel Corp. (INTC.O: Quote, Profile, Research) President Paul Otellini received a 49 percent raise in cash compensation last year, to $1.8 million, as he prepares to take over as chief executive at the annual meeting in May, the company said on Tuesday.
Craig Barrett, who is stepping down as CEO at 65, received a 16 percent raise in total cash pay to $2.5 million, including salary and bonus, last year, when Intel reported record annual revenue of $34.2 billion and a 33 percent increase in net income.
Both men, however, received fewer stock options in 2004, at a time when accounting rulemakers are preparing to require companies to count the cost of options against earnings. Barrett received 350,000 stock options, down from 1.35 million last year; Otellini received 300,000 options, down from 900,000 last year.
If Intel's stock rose between 5 percent and 10 percent per year over the next 10 years, Barrett's options would be worth between $5.9 million and $15.1 million, while Otellini's options would be worth between $5.1 million and $12.9 million. If Intel's stock does not rise, the options can expire worthless. |
