Citing “improvements in business conditions”, Volterra gives raises to select execs

volterralogoVolterra Semiconductor raised the pay of two of its top executives starting today, according to an SEC filing. The salary increases, which were recommended in January by the board of directors’ compensation consultant after examining comparable pay at the company’s peer group of 20 other chip makers mostly based in Silicon Valley did not take effect earlier due to a salary freeze imposed because of “business uncertainties affecting the worldwide economy.”

The company lifted the salary freeze recently and the compensation committee of the board approved lifting the salary of Chief Financial Officer Mike Burns by $20,000, or 8.7 percent, to $250,000, and of Vice President David Lidsky, head of design engineering, by $15,000, or 6.6 percent, “based on their responsibilities and performance and in line with our peer group data.”

Pay levels for the company’s other named officers remained the same, including Chief Executive Jeff Staszak, who gets paid $385,000 a year, or about halfway among the salaries of his peers.

 

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