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AMD CEO's pay falls 15% to $US4.5 million in 2009

Despite 2009 profits, AMD CEO Dirk Meyer's total compensation fell by 15 per cent
AMD Chief Executive Officer Dirk Meyer

AMD Chief Executive Officer Dirk Meyer

Advanced Micro Devices turned a profit in 2009 after three successive annual losses, but CEO Dirk Meyer's total compensation fell 15%.

Meyer received compensation in fiscal 2009 valued at $US4.5 million, compared to $5.3 million in 2008, according to documents filed with the U.S. Securities and Exchange Commission.

His pay package includes a $792,685 salary, plus a $45,000 bonus. The bonus Meyer and other AMD employees received is a one-time payment to supplement their base salaries, which were temporarily decreased by 15% to 20% during 2009.

CEO payday: How much tech chiefs made in '08

Meyer also received stock and option awards valued at $3.7 million at the time they were granted (down 16% from $4.4 million in 2008). His other compensation and perquisites totaled $7,478, which includes matching contributions to his 401(k) account.

As a company, AMD's revenue fell 7% in 2009, but the company turned an annual profit for the first time since 2005. AMD reported a net profit of $304 million on revenue of $5.4 billion for the year ended Dec. 26. AMD reported a loss of $3.1 billion on revenue of $5.8 billion in 2008.

Meyer's total pay is calculated using data supplied in a proxy statement filed with the SEC on March 5. The following figures are taken from the summary compensation table: salary, bonus, and all other compensation. Added to those figures is the estimated value of stock options and awards granted during the year; that figure is taken from the table that summarizes grants of plan-based awards.

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More about: Advanced Micro Devices, Advanced Micro Devices, AMD, SEC, Securities and Exchange Commission
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Comments

1

Tony

Tue 16/03/2010 - 09:28

The poor man, scrimping by on a measily 4.5 million.

Some people really are doing it tough.

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