We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
 
74,421 News Articles

Symantec CEO nets $8.5 million pay package

Symantec CEO Enrique Salem netted an $8.5 million pay package this year, down 6% from the $9 million he received in 2010, according to documents filed with the U.S. Securities and Exchange Commission.

Salem received a 20% salary boost to $750,000, up from $625,000 in 2010. His bonus increased significantly, too, climbing 38% to $4.3 million, up from $3.1 million last year.

PAYDAY: What tech's top execs took home in 2010

But his equity awards took a big hit. Salem received stock awards valued at $1.7 million (down from $2.4 million) and option awards valued at $1.7 million (down from $2.9 million).

Salem's only reported perk was worth $33,975, which represents expenses Symantec paid so he could attend a company trip for sales achievers.

The company, meanwhile, grew revenue by 3% during its 2011 fiscal year ended April 1. Revenue came in at $6.19 billion, up from $5.99 billion in 2010.

Profits are a different story, however. Symantec's net income fell 16% to $597 million from $714 million in the prior year.

Salem's total pay is calculated using data supplied in a proxy statement filed with the SEC on Sept. 1. The following figures are taken from the summary compensation table: salary, stock awards, option awards, non-equity incentive place compensation (performance-based cash bonus), and all other compensation. The estimated value of equity awards represents the grant date fair value for stock awards and stock options granted during the fiscal year.

Follow Ann Bednarz on Twitter: twitter.com/annbednarz

Read more about data center in Network World's Data Center section.


IDG UK Sites

LG G3 release date, price, specs and new features 2014

IDG UK Sites

iPhone 5s review: why the iPhone 5s is still the best phone you can buy in 2014

IDG UK Sites

PCs vs consoles: PCs still pwn when it comes to gaming (and everything else)

IDG UK Sites

NAB 2014: Affordable 4K cameras, boundary-pushing plug-ins & drone domination