Atmel Math: Flat Revenues + Falling Stock = Big CEO Bonus(0)
For Atmel (ticker:ATML), 2007 probably won’t be a year to remember. Revenues were down slightly from 2006. Profits were up a bit. And on Tuesday, the stock closed at $3.24 per share, off its 52-week high of $6.08.
Steven Laub, president and CEO of Atmel, need not despair. Laub joined the company in August 2006, and so 2007 marked the first full year under his tenure. According to a proxy filed on Tuesday, the board gave him a pay package worth $5.57 million, including a cash bonus of $968,333.
Why? Read the rest of this entry »
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