Intel CEO's pay package climbs 7% to $15.7 million

Intel CEO Paul Otellini received a seven per cent pay bump last year, as Intel more than doubled its profits and for the first time topped $40 billion in revenue. His total compensation climbed to $15.7 million in 2010 from $14.6 million in 2009, according to documents filed yesterday with the U.S. Securities and Exchange Commission.

Otellini's pay package included his $1 million salary, which is unchanged from the salary he received in 2009, and a $30,400 cash bonus. The bonus, which Intel says is equivalent to three days of compensation, "was a special bonus paid to all eligible employees, including the listed officers, for their contribution in achieving an Intel milestone: Intel's first year when revenue exceeded $40 billion," the company explained in its proxy statement.

BY THE NUMBERS: Perks drive up pay for tech CEOs

The biggest boost to Otellini's pay came in the form of a performance-based bonus worth $6.8 million -- which is up 29 per cent from the $5.3 million bonus he received in 2009.

The combined value of Otellini's equity awards declined compared to a year ago. He received stock awards valued at $6.2 million at the time they were granted (down seven per cent from $6.7 million in 2009) and option awards valued at $1.1 million (down eight per cent from $1.2 million in 2009).

The value of Otellini's other compensation and perquisites increased 32 per cent to $382,100 which includes: $14,700 for retirement plan contributions, $364,900 for deferred compensation plan contributions, and $2,500 for matching charitable contributions. (See also: Perks shrink, but tech CEOs aren't ready to fly coach)

Otellini also received $131,000 attributed to changes in the value of his pension plan.

The company, meanwhile, logged a record year, growing revenue and profits by 24 per cent and 167 per cent, respectively, in the fiscal year ended Dec. 25. Intel's revenue came in at $43.6 billion, up from $35.1 billion in 2009. Net income hit $11.7 billion, up from $4.4 billion in the prior year.

Otellini's total pay is calculated using data supplied in a proxy statement filed with the SEC on April 4. The following figures are taken from the summary compensation table: salary, bonus, stock awards, option awards, non-equity incentive place compensation (performance-based cash bonus), changes in pension value and non-qualified deferred compensation earnings, 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.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuespersonnelcorporate issuesSEC Filingsfinancial resultsintelCEO pay

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Ann Bednarz

Network World
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?