LEXMARK OK’S BONUS FOR CEO OF $2.1MILLION

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LEXMARK OK’S BONUS FOR CEO OF $2.1MILLION

 user 2006-03-02 at 12:44:00 pm Views: 57
  • #14684

    Lexmark grants $2.1 million incentive award to CEO
    WASHINGTON  — Lexmark International Inc. approved a $2.1 million award for Chief Executive Paul Curlander.
    The Lexington, Ky.-based computer-printer maker said in a filing Tuesday with the Securities and Exchange Commission that the money was awarded under the 2003 to 2005 long-term incentive plan.
    The company also said it approved a 2005 annual incentive award of $160,000 for Curlander, and a grant of 225,000 10-year nonqualified stock options.
    The options were granted at an exercise price of $48.05 and will vest in three nearly equal annual installments beginning on the first anniversary of the grant date.
    Lexmark, which had 2005 revenue of $5.2 billion, said it approved the grant last Wednesday.
    The company also approved a grant of 50,000 restricted stock units to Curlander with a value of $2.4 million under the company’s stock incentive plan.