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.