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Sarbanes-Oxley News & Developments
Cash Bonuses Planned for Dell ExecutivesDell Computer Corp.,which has been slashing employee stock options, plan to pay cash bonuses to top executives.
> > Dell board of directors approved bonuses last month and will ask shareholders to give their approval. Board members said the five year bonus plan would help Dell attract and keep qualified executives.
Dell officials cut the number of stock options granted to employees by about half.
Stock options are still a part of compensation for Dell employees but the company believes that reducing the reliance on options will result in more attractive compensation packages.
In the SEC filing Dell said MIchael Dell was paid $950,000 salary and $2.5 million bonus in 2002, compared to $347,000 bonus in 2001. President/COO Kevin B. Rollins was paid $771,000 salary and $2 million bonus in 2002, compared to $243.000 bonus in 2001. Each also received options for 500,000 shares.
Source: The Nando Times article dated May 6, 2003
Published:2003-05-07
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