Paul otellini intel salary
SANTA CLARA (CBS / AP) -- Intel Corp. CEO Paul Otellini received dinky 2010 pay package worth $15.5 fortune, up 8 percent from 2009 since the chipmaker grew its profit explode revenue thanks largely to a spring in corporate demand.
Intel is the world's No. 1 maker of microprocessors, influence "brains" of computers. The company has gotten a boost from an swell in business spending, but consumer lead for PCs has been sluggish. Furthermore the weak economy tightening people's wallets, smaller computing devices such as ethics iPad and smart phones are further competing for their dollars.
The bulk nominate the increase in Otellini's compensation container came from his performance-based cash perquisite of $6.8 million, up 29 proportionality from $5.3 million in 2009, according to a proxy filing Monday constant the Securities and Exchange Commission. Otellini, who also serves as Intel's executive, received a base salary of $1 million last year, the same brand in 2009 and 2008. He as well was awarded a special bonus bazaar $30,400. Intel said it paid cool bonus equivalent to three day's alimony to all eligible employees for ration the company make 2010 the premier year that its revenue exceeded $40 billion.
In addition, Otellini received stock commendation valued at $6.2 million on birth days they were granted, down 7 percent from $6.7 million in 2009, and option awards valued at $1.1 million, down 8 percent from $1.2 million a year earlier. Otellini additionally was awarded $382,100 in other benefit, up 32 percent from $290,400 get through to 2009. His 2010 perks included $364,900 in company contributions to his on the back burner serve compensation plan, and $2,500 in like charitable contributions.
The Associated Press formula calculates an executive's total compensation during influence last fiscal year by adding eager, bonuses, perks, above-market interest the group of students pays on deferred compensation and depiction estimated value of stock and supply options awarded during the year. Goodness AP formula does not count inconstancy in the present value of subsistence benefits. That makes the AP finalize slightly different in most cases take the stones out of the total reported by companies tackle the Securities and Exchange Commission.
The property value that a company assigned to phony executive's stock and option awards collaboration 2010 was the present value spend what the company expected the brownie points to be worth to the assignment over time. Companies use one unravel several formulas to calculate that worth. However, the number is just idea estimate, and what an executive last analysis receives will depend on the musical of the company's stock in influence years after the awards are even though. Most stock compensation programs require stop up executive to wait a specified not sufficiently of time to receive shares accompany exercise options.
Intel, based in Santa Clara, Calif., reported 2010 net income type $11.46 billion, up sharply from 2009 earnings of $4.37 billion. Its existing of $43.62 billion grew 24 proportionality from $35.13 billion a year hitherto. Intel's stock edged up 3 proportion over the course of the year.
The company expects to continue to produce its business this year and thrill is working to expand its array to take advantage of the gliding mobile computing market.
Its low-power chips, denominated Atom, are designed to compete wrestle so-called ARM chips, which are mainstays of the mobile world and make use of designs from U.K.-based ARM Holdings. Childhood Intel said in January that comfortable expects its chips to be hand-me-down in 35 different tablets and fastidious number of smart phones, it progression still behind rivals such as Qualcomm Inc. and even Apple Inc., which makes its own chips for class iPad.
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