LEXMARK's CEO RECEIVES $ 3.4Mln SALARY IN 2008

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LEXMARK's CEO RECEIVES $ 3.4Mln SALARY IN 2008

 user 2009-03-13 at 12:21:02 pm Views: 99
  • #21798
    http://www.forbes.com/feeds/ap/2009/03/06/ap6138277.html
    Lexmark chief executive receives $3.4M in 2008
    Paul
    J. Curlander, the chairman and chief executive of printer maker Lexmark
    International Inc., received compensation valued at $3.4 million in
    2008, down 34 percent from the prior year, according to a regulatory
    filing on Friday.Curlander, 56, received a base salary of $1 million
    and other compensation of $75,787. Other compensation included $10,260
    in financial planning reimbursement, $5,573 in a tax gross-up for
    financial planning, $13,800 in a matching contribution under the
    company’s savings plan and $46,154 for a matching contribution to a
    retirement plan.He also received stock and option awards valued at
    nearly $2 million when were granted in February 2008.

    In 2008, Curlander received about $5.2 million in compensation.
    The
    Associated Press’ calculations of total pay include executives’ salary,
    bonus, incentives, perks, above-market returns on deferred compensation
    and the estimated value of stock options and awards granted during the
    year. The calculations do not include changes in the present value of
    pension benefits.In fiscal 2008, the Lexington, Ky.-based company’s
    income fell 20 percent to $240.2 million, or $2.69 per share, from
    $300.8 million, or $3.14 per share last year. Revenue fell 9 percent to
    $4.53 billion from $4.97 billion a year ago.
    Lexmark shares fell about 23 percent during the year.