Adobe CEO's pay more than doubles to $12.2 million
2010 was a good year for Adobe Systems CEO and President Shantanu Narayen, whose compensation package more than doubled.
For the fiscal year ending Dec. 3, Narayen received compensation worth $12.2 million, up from $5 million in 2009, according to documents filed with the U.S. Securities and Exchange Commission.
The company, meanwhile, grew revenue by 29 percent and doubled its profits in its 2010 fiscal year. Revenue came in at $3.8 billion, up from $2.9 billion in 2009. Net income hit $774.7 million, up from $386.5 million in the prior year.
Narayen’s pay package included his $909,583 salary, which is up 4 percent from the $875,000 salary he received in 2009. Narayen also received a performance-based cash bonus of $2.2 million (he received no cash bonus in 2009).
The bulk of Narayen’s 2010 compensation came in the form of stock awards, valued at $6.5 million at the time they were granted (a threefold increase from $1.9 million in 2009), and option awards valued at $2.7 million (up 18 percent from $2.3 million in 2009).
His other compensation and perquisites totaled $7,686, which includes $7,350 for company 401(k) contributions and $336 for life insurance premiums.
Narayen’s total pay is calculated using data supplied in a preliminary proxy statement filed with the SEC on Feb. 28. The following figures are taken from the summary compensation table: salary, stock awards, option awards, non-equity incentive place compensation (bonus), and all other compensation. The estimated value of equity awards represents the grant date fair value of performance shares and stock options granted during the fiscal year.