Palmisano compensation tops $16 million
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- March
- 12
IBM Corp.’s top executive was awarded a compensation package for 2006 that was valued at more than $16 million, according to a filing with the Securities and Exchange Commission.
Samuel J. Palmisano, the company’s chairman, president and chief executive officer, received salary of $1.75 million plus a cash payout of $5 million. In addition, he also received stock options valued at $3.28 million, and more than 56,000 shares of IBM stock with a present value of $5.28 million.
Palmisano collected other payments totalling $922,000. They include a variety of cash and in-kind items, such as private travel on IBM jets valued at $373,000, personal security expenses of $53,000, and tax reimbursements of $11,000.
Shareholders in Armonk-based IBM saw a total return in calender year 2006 of 19.8 percent, compared to a total return of 15.8 percent in the S&P 500.
This entry was posted
on Monday, March 12th, 2007 at 6:01 pm by Jerry Gleeson.
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