Kana Software, the Menlo Park supplier of customer-service software whose auditor has raised substantial doubt about (its) ability to continue as a going concern, says it decided not to give its chief executive, Michael Fields, a raise over the last two years. Instead it starting paying his rent, according to the company proxy file today.
Fields, who became chief executive in 2005, was paid Read the rest of this entry »
Novellus Systems said Wednesday that Chief Executive Richard Hill will begin getting paid a base salary equal to 90 percent of his reported 2008 base salary, which was $878,000, according to the company’s last proxy, making his new base salary $790,200. Divided by 12, that amounts to about $65,850 a month.
But the reduction is effectively a raise, given that Read the rest of this entry »
Given the number of Silicon Valley executives seeing their salaries cut recently, it may comfort s0me C-level leaders to know that at least one CEO, CyberSource’s William McKiernan, is getting a pretty fat raise.
According to a filing the company made Monday, the compensation committee of CyberSource’s board of directors pushed McKiernan’s pay up by $80,0000 to Read the rest of this entry »
Spansion, the Sunnyvale flash memory maker that gave its executives a retention-based pay raise in February the same day it fired 3,000 workers, said this week that one of those raises doesn’t seem to have had the desired effect.
The company revealed in a regulatory filing Thursday that one of the recipients of those executive retention pay raises quit a week ago. Dario Sacomani (pictured), the company’s now former chief financial officer, resigned April 10, when he and Spansion entered into a “Personal Leave Agreement” under which Read the rest of this entry »
The compensation committee at Electronic Arts is evidently not as confident about the companies near-term prospects as they were last year, judging by their decision March 18 to extend the performance period for some restricted stock awards it doled out to executives at the senior vice president level and above last May.
According to the original agreement, the awards were to vest Read the rest of this entry »
Oracle shareholders got a pleasant surprise this week when the Redwood City software giant said it would begin paying its first ever dividend. One shareholder in particular was no doubt especially pleased, though probably not surprised: Oracle founder and chief executive, Larry Ellison, who sits on the board and is also its largest stockholder.
When his company makes its first quarterly dividend payment of 5 cents per share on May 8, Ellison’s payment will amount to Read the rest of this entry »
Texas Instruments said Thursday it is eliminating the use of “gross-up” payments made to reimburse its chief executive for individual income tax incurred when he uses a corporate aircraft for personal reasons, a step that is required by the board of directors’ “security policy”.
Previously the company would reimburse Read the rest of this entry »
The compensation committee of Finisar’s board of directors had second thoughts about restricted stock awards they authorized for the company’s named executives last month, slashing their value days after the company cut jobs and reduced benefits.
What happened to change their minds? Read the rest of this entry »
The compensation committee of Echelon’s board of directors has decided to “forgo specific financial or operating performance requirements” under its management bonus plan this year, “given the current uncertain economic environment.”
Instead, all its named officers will need to do to receive their bonuses, which are to be paid out in shares of company stock, is to Read the rest of this entry »
A monthly update from Challenger, Gray & Christmas on CEO departures should be kept in mind the next time we come across some form of “retention” compensation offered to a chief executive.
The number of chief executives leaving companies “nosedived” in February to 83, the lowest monthly rate since Read the rest of this entry »
Subscribe via RSS all feeds