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.