Lexmark announces execs’ incentive package
Lexmark
International announced its future long-term incentive targets for top
executives last week. In a filing late Friday with the Securities and
Exchange Commission, the company disclosed that a board committee had
decided on the specifics of the 2006-2008 Long-Term Incentive Plan.
Under the program, top executives will be compensated for their
performance in achieving operating income and market share goals. The
targeted bonuses for top executives are: $1.575 million for CEO Paul
Curlander; $650,000 for Paul Rooke, who heads Lexmark’s Printing
Solutions and Services Division; $575,000 for Chief Financial Officer
John Gamble; $550,000 for Najib Bahous, who heads Lexmark’s Consumer
Printer Division. Each officer could earn up to 2.5 times that target
amount depending on the achievement of the goals. They could also earn
only 30 percent of the target amount if the company fails to meet its
goals.