Cisco CEO Chambers’ pay climbs 33% to $18.9 million
- 13 September, 2010 23:17
Cisco CEO John Chambers received compensation valued at $18.9 million in fiscal 2010, according to documents filed Friday with the U.S. Securities and Exchange Commission. His total package is up 33% from 2009, when he received compensation valued at $14.2 million.
The company, meanwhile, grew revenue and profits by 11% and 27%, respectively, in its 2010 fiscal year, which ended July 31. Revenue came in at $40 billion, up from $36.1 billion in 2009. Net income hit $7.8 billion, up from $6.1 billion in the prior year.
The bulk of Chambers’ 2010 pay package came in the form of stock and option awards, which were valued at $13.9 million at the time they were granted (up 18% from $11.8 million in 2009).
Chambers received a cash bonus of $4.6 million, which is more than double the $2 million bonus he received a year earlier. His pay package also includes a $382,212 salary, which is nearly equivalent to the salary he received in 2009.
His other compensation and perquisites totaled $11,025, which is attributed to matching contributions that Cisco made under its 401(k) plan on behalf of Chambers.
Chambers’ total pay is calculated using data supplied in a preliminary proxy statement filed with the SEC on Sept. 10. The following figures are taken from the summary compensation table: salary, stock awards, option awards, non-equity incentive place compensation (bonus), and all other compensation. The estimated value of stock options represents the aggregate grant date fair value of option awards granted during the fiscal year.