Menu
IBM CEO's pay hit US$21.2 million in 2009

IBM CEO's pay hit US$21.2 million in 2009

Sam Palmisano, chairman and CEO of IBM, was awarded a compensation package valued at $21.2 million in 2009, according to documents filed today with the US Securities and Exchange Commission.

His total compensation rose slightly compared to 2008, when his pay package was valued at $21 million.

Palmisano’s 2009 salary was $1.8 million, which is unchanged from 2008. He earned a $4.75 million performance-based cash bonus, down 14% from $5.5 million in 2008.

The bulk of his pay package came in the form of performance-based stock awards, which were valued at $13.5 million at the time they were granted (up 11% from $12.2 million in 2008).

Palmisano also received $1.1 million in perks and other compensation. His perks included personal travel on company aircraft of $320,065; use of company autos; financial planning; personal security; and other personal expenses.

As a company, IBM reported revenue of $95.8 billion in fiscal 2009, a decrease of 8% compared to $103.6 billion in 2008. However, Big Blue managed to grow its profit during the year ended Dec. 31. Income came in at $13.4 billion, a gain of 9% compared to $12.3 billion in 2008.

Palmisano’s total pay is calculated using data supplied in a proxy statement filed with the SEC on March 8. The following figures are taken from the summary compensation table: salary, bonus, non-equity incentive plan compensation, nonqualified compensation earnings, and all other compensation (perks). 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. The calculations don't include changes in the value of pension benefits or changes in retention plan value.


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags IBMinternational news

Featured

Slideshows

Channel celebrates as HP marks 50 years in NZ

Channel celebrates as HP marks 50 years in NZ

HP marked 50 years in New Zealand at an event in the vendor's Auckland's headquarters last night, with a host of key channel figures coming along to celebrate. Photos by HP.

Channel celebrates as HP marks 50 years in NZ
EDGE 2017 - Icebreaker Sessions round 2

EDGE 2017 - Icebreaker Sessions round 2

EDGE guests experience the value of networking at the second round of Icebreaker sessions.. Photos by Maria Stefina

EDGE 2017 - Icebreaker Sessions round 2
Show Comments