| | Dell CEO Rollins FY05 Bonus $2.1M, Salary $869,231...
DOW JONES NEWSWIRES
May 31, 2005 6:51 p.m.
[Shareholders screwed again with stock options.wfw]
WASHINGTON -- Dell Inc. (DELL) paid Chief Executive Kevin Rollins $2.96 million in salary and bonus for fiscal 2005, plus 1.2 million stock options, according to a regulatory filing Tuesday.
Rollins took over from Michael Dell as CEO in July 2004. Before that, Rollins was the company's president.
Rollins' compensation for fiscal 2005, which ended Jan. 28, includes a $2.1 million bonus, up from $1.7 million the year before.
The CEO's salary also rose to $869,231 from $797,115, according to Dell's proxy filing with the Securities and Exchange Commission.
The proxy shows that Rollins exercised 993,000 stock options during the last fiscal year, for a realized value of $36.3 million.
Michael Dell, founder and chairman of the company, took home $3.2 million in salary and bonus for fiscal 2005, up from $3 million the year before, the company said. He also received stock options on 400,000 shares.
The chairman's compensation for the last fiscal year included a $2.3 million bonus, up from $2.05 million, and a flat salary of $950,000, according to the filing.
Separately in the proxy, Dell recommended against an investor proposal that would require the company's director nominees to get a majority of shareholder votes in order to be elected. Dell currently elects its directors by a plurality vote, meaning that nominees who get the most affirmative votes are elected to the board.
The majority-vote bid was brought by the United Brotherhood of Carpenters Pension Fund, which has proposed the change for dozens of U.S. companies along with other building trade unions in the name of better corporate governance.
-By Paulette Chu, Dow Jones Newswires; 202-862-1355; paulette.chu@dowjones.com |
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