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Technology Stocks : Seagate Technology

STX 278.47

+1.0%

Nov 6 4:00 PM EST

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From: duedilly	8/25/2006 8:54:56 AM
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08/24 18:22 DJ Seagate Technology CEO Gets $3M Bonus For FY06 >STX WASHINGTON (Dow Jones)--Seagate Technology Inc. (STX) President and Chief Executive William Watkins was awarded a $3 million bonus for the company's fiscal year ended June 30, Seagate said Thursday. Chief Operating Officer David Wickersham was awarded a $2 million bonus for the 2006 fiscal year, Seagate said. Seagate said it awarded Watkins, Wickersham and other executives bonuses equal to twice the target amounts the company previously set for those executives for fiscal year 2006. Seagate's board decided to grant bonuses above the previously disclosed targets after assessing the company's financial and operational performance and the performance of each executive, according to a Securities and Exchange Commission filing Thursday. Watkins and Wickersham's fiscal year 2006 bonuses were unchanged from the bonuses they received for fiscal 2005, according to an earlier filing with the SEC. Neither executive received a bonus for fiscal 2004.

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