Microsoft CEO Ballmer's salary up 4 percent in '09

Стив БалмерMicrosoft Corp. raised CEO Steve Ballmer's salary by 4 percent at the start of fiscal 2009, a year in which the software maker's profit declined 17 percent as the economic meltdown decimated personal computer sales.

Ballmer's salary rose to $665,883 from $640,833, according to a preliminary filing Friday with the Securities and Exchange Commission.

Last year, the CEO earned a $700,000 bonus. Microsoft did not disclose Ballmer's 2009 bonus, stock awards or other performance-based pay in this draft of its proxy statement.

The filing also laid out proposals to be voted on at Microsoft's next shareholder meeting, which is scheduled for Nov. 19.

In an uncommon move, the company's board proposed a "say-on-pay" measure that would give shareholders a chance to weigh in every three years on executive compensation. The advisory vote would be nonbinding.

Such proposals usually come from shareholders, not the board itself. In drafting its proposal, Microsoft said the board considered proposals from several shareholder groups, as well as proposed federal legislation requiring say-on-pay for public companies.

In a blog post, Brad Smith, Microsoft's general counsel, and John Seethoff, deputy general counsel, wrote that some stockholders pushed for an advisory vote every year, but that the longer period is better for evaluating long-term incentives. Smith and Seethoff also wrote that it would be hard for the board to rejigger its compensation program on such short notice.

A final version of Microsoft's proxy statement with more details on executive compensation is expected around Oct. 1.

Microsoft's 2009 earnings fell to $14.6 billion from $17.7 billion in 2008. Sales dropped 3 percent to $58.4 billion, the first time its revenue declined since it went public in 1986.

Source: Yahoo

Tags: Microsoft, Steve Ballmer

Add comment

Your name:
Sign in with:
Your comment:

Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party

Last news

Pokemon GO had the potential to net $1 billion a year
The report said that Hon Hai has invested about US$600 million in India
Market research firm IDC reports that in the third quarter of this year
Customers will only have to shell out 50% of the cost of their Galaxy S7 device
New flagship will launch in 2017
Patent hints at name of the upcoming Surface AIO
IBM, Globalfoundries and Samsung have chosen to use extreme ultraviolet (EUV) light to pattern transistors
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
HP Slate 7 is a 7-inch Android 4 Tablet PC with good sound
A cost-effective, 7-inch tablet PC from a renowned manufacturer
October 25, 2013 / 4

News Archive



Do you use microSD card with your phone?
or leave your own version in comments