Cisco Systems Inc. (NASDAQ: CSCO) CEO John Chambers received compensation valued at US$18.9 million in fiscal 2010, according to documents filed Friday with the U.S. Securities and Exchange Commission. His total package is up 33 per cent from 2009, when he received compensation valued at US$14.2 million.
The company, meanwhile, grew revenue and profits by 11 per cent and 27 per cent, respectively, in its 2010 fiscal year, which ended July 31. Revenue came in at $40 billion, up from $36.1 billion in 2009. Net income hit $7.8 billion, up from $6.1 billion in the prior year.
The bulk of Chambers’ 2010 pay package came in the form of stock and option awards, which were valued at $13.9 million at the time they were granted (up 18 per cent from $11.8 million in 2009).
Chambers received a cash bonus of $4.6 million, which is more than double the $2 million bonus he received a year earlier. His pay package also includes a $382,212 salary, which is nearly equivalent to the salary he received in 2009.
His other compensation and perquisites totaled $11,025, which is attributed to matching contributions that Cisco made under its 401(k) plan on behalf of Chambers.
Chambers’ total pay is calculated using data supplied in a preliminary proxy statement filed with the SEC on Sept. 10. 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 stock options represents the aggregate grant date fair value of option awards granted during the fiscal year.