News Article
Bonus bonanza
Mike Splinter, chief executive officer of Applied Materials, was awarded a US$5 million bonus and 1.1 million stock options in 2004, according to a recent filing with the Securities and Exchange Commission.
Mike Splinter, chief executive officer of Applied Materials, was awarded a US$5 million bonus and 1.1 million stock options in 2004, according to a recent filing with the Securities and Exchange Commission.
The bonus was the maximum on offer and awarded in spite of a 21% drop in the value of Applied’s stock during the year. However, the company’s sales grew by 79% during the year -significantly above the industry average of 60%.
“Under Splinter’s leadership, Applied substantially exceeded the fiscal 2004 targets,” the company said in the filing.
