*NEWS*LEXMARK OK’S $2.1M BONUS FOR CEO

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*NEWS*LEXMARK OK’S $2.1M BONUS FOR CEO

 user 2006-03-02 at 12:45:00 pm Views: 67
  • #14685

    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.