By Ed Frauenheim, 28 May 2004 09:10
NEWS Kevin Rollins, Dell's soon-to-be CEO, exercised stock options worth $35.9m during the company's last fiscal year.
That amount far exceeded Rollins' salary and bonus for the year, according to figures in a filing with the Securities and Exchange Commission. Rollins, who serves as the computer-maker's president and COO, received a salary of $797,115 and a bonus of $1.7m for the year ended 30 January.
CEO Michael Dell did not exercise any stock options during the year. He received a salary of $950,000 and a bonus of $2.1m.
James Schneider, the company's CFO, exercised options worth $30.1m. Schneider received a salary of $500,000 and a bonus of $720,000.
Rollins is scheduled to become president and CEO on 16 July at the company's annual meeting of shareholders. Dell will remain as chairman.
Rollins has been handling the day-to-day work of the company for some time, while Michael Dell has spent more time focusing on his company's strategic initiatives.
Rollins still had exercisable options worth $137.9 million at the end of the company's fiscal year.
Ed Frauenheim writes for News.com
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