IBM CEO's pay hit $21.2 million in 2009

IBM's Sam Palmisano raked in the big bucks during econimic crisis

Sam Palmisano, chairman and CEO of IBM, was awarded a compensation package valued at $21.2 million in 2009, according to documents filed today with the U.S. Securities and Exchange Commission.

His total compensation rose slightly compared to 2008, when his pay package was valued at $21 million.

Palmisano’s 2009 salary was $1.8 million, which is unchanged from 2008. He earned a $4.75 million performance-based cash bonus, down 14% from $5.5 million in 2008.

The bulk of his pay package came in the form of performance-based stock awards, which were valued at $13.5 million at the time they were granted (up 11% from $12.2 million in 2008).

Palmisano also received $1.1 million in perks and other compensation. His perks included personal travel on company aircraft of $320,065; use of company autos; financial planning; personal security; and other personal expenses.

As a company, IBM reported revenue of $95.8 billion in fiscal 2009, a decrease of 8% compared to $103.6 billion in 2008. However, Big Blue managed to grow its profit during the year ended Dec. 31. Income came in at $13.4 billion, a gain of 9% compared to $12.3 billion in 2008.

Palmisano’s total pay is calculated using data supplied in a proxy statement filed with the SEC on March 8. The following figures are taken from the summary compensation table: salary, bonus, non-equity incentive plan compensation, nonqualified compensation earnings, and all other compensation (perks). Added to those figures is the estimated value of stock options and awards granted during the year; that figure is taken from the table that summarizes grants of plan-based awards. The calculations don't include changes in the value of pension benefits or changes in retention plan value.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Ann Bednarz

Network World
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?