JPMorgan (NYSE:JPM) Chief Executive Officer Jamie Dimon enjoyed a big boost in compensation in 2010, where it jumped to $20.8 million for the year. In 2009 Dimon's compensation was a relatively small $1.3 million.
The salary Dimon received remained at $1 million, but enjoyed a $5 million performance bonus, $6.2 million in options, and about $8 million in stock, according to a regulatory filing with the U.S. Securities and Exchange Commission by the company.
Dimon's 2010 overall compensation is under his total for 2008 of $35.8 million.
JPMorgan generated a profit of $17.4 billion in 2010.
JPMorgan closed Thursday at $47.40, falling $0.24, or 0.50 percent.
Friday, April 8, 2011
JPMorgan's (JPM) CEO Lands $20.8 Million in 2010
Monday, March 21, 2011
Dell (DELL) CEO Acquires $148 Million of Stock
Dell Inc. (NASDAQ:DELL) founder and CEO Michael Dell announced he has acquired another 10.4 million shares in the company for over $148 million.
According to a filing Friday with the U.S. Securities and Exchange Commission, Dell acquired the shares over a period of three days at a price range of $14.21 to $14.41 a share.
Overall he now owns 243.3 million shares of the company.
Dell bought 7.37 million shares in the company in December at $13.56 each.
In February, Dell reported nearly tripling its fourth-quarter profit, posting $927 million in net income on $15.6 billion in revenue compared with $334 million on $14.9 billion in revenue in the same quarter last year last year.
Dell closed Friday at $14.51, gaining $0.40, or 2.83 percent.
Tuesday, March 15, 2011
UPS (UPS) CEO Lands $9.5 Million Paycheck, Up 73 Percent Over Year Before
United Parcel Service Inc. (NYSE:UPS) Chief Executive Officer Scott Davis received a total compensation package valued at $9.5 million in 2010, a huge 73 percent jump over what he received in 2009.
Davis received a base salary of $1 million in 2010, the same as the year before, according to a filing Monday with the Securities and Exchange Commission. The majority his compensation, though, was in the form of stock. Davis' stock was valued at about $7.8 million at the end of 2010, over twice the $3.9 million his shares were worth at the end of 2009.
He was also granted option awards valued at $437,514 in 2010, nearly the same as 2009. His performance-based cash bonus rose 78 percent to $232,000 from $130,523 in 2009.
UPS said in the filing that "the increase in Davis' total compensation reflects a long-running and deliberate effort" to boost the compensation of its top three executives at the company, assuming earnings performance measures are met.
UPS closed Monday at $73.19, down $0.90, or 1.21 percent.
Wednesday, March 9, 2011
Dynegy (DYN) May Declare Chapter 11 Bankruptcy
Shares of Dynegy (NYSE:DYN) are down today, following the filing of their 10-K with the U.S. Securities and Exchange Commission yesterday where they revealed they may have to seek Chapter 11 protection in the case they not be able to amend or replace their existing credit facility.
The company also said in their latest quarterly report that they will no longer issue guidance: "In light of recent management and board changes that may affect the company’s strategic plans, Dynegy currently does not intend to provide guidance estimates for 2011."
Here's what Dynegy said in their filing: "In light of our likely non-compliance, we are attempting to amend or replace our existing Credit Facility. If we are able to amend our Credit Facility or enter into a new facility, we expect that capacity of any such facility to be less than the current capacity of $1.8 billion and to be at a higher cost, which reduced capacity and increased costs could have a material adverse effect on our ability to successfully run our business. We may also seek additional sources of liquidity in an effort to secure sufficient cash to meet our operating needs. These additional sources of liquidity could include asset sales, public or private issuances of debt, equity or equity-linked securities, debt for equity swaps, or any combination of these. However, we cannot provide any assurances that we will be successful in accomplishing any of these plans. If we are unable to successfully execute our plan to amend or replace our Credit Facility or otherwise obtain additional sources of liquidity, it may be necessary for us to seek protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, or an involuntary petition for bankruptcy may be filed against us."
Dynegy was trading at $5.69, dropping $0.10, or 1.73 percent, as of 12:04 PM EST.