Intel cuts Executives 2006 bonuses
Intel CEO Paul Otellini received compensation the company valued at $6.18 million in 2006, a year in which the company undertook a massive restructuring to reverse sinking profits, but also fired back at its archrival with a strong new product lineup.
Otellini got a 15 percent boost in his salary last year to $700,000, according to a filing Tuesday with the Securities and Exchange Commission. He also received $1.77 million in non-equity incentive plan compensation, and $236,700 in other compensation, including more than $15,000 the company contributed to his retirement plan. Otellini’s award also included $2.64 million in options, and $837,000 in restricted stock. He pocketed more than $2.3 million by exercising options on 192,000 shares of stock.
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