Big-time bonuses

June 2, 2004

There’s five fellows out in Silicon Valley who have something to be happy about (and no, we’re not talking about Google here). National Semiconductor (NSM) handed out over $10 million in bonuses to its top five executives for the fiscal year ended May 30, 2004, according to the proxy filed yesterday. CEO Brian Halla got the biggest payout: $5 million, more than 10 times his fiscal 2003 bonus. But Chief Operating Officer Donald Macleod’s $2.2 million bonus — compared with $330,000 last year — is nothing to sneeze about either. Add in $23 million in exercised stock options last year — the stock nearly doubled during the fiscal year and the top five opted to cash in some of their chips — and pretty soon, you’re talking about real money.

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