DALLAS - The chief executive of cell-phone chip-maker Texas Instruments Inc. got compensation the company valued at $10.3 million in 2007, 17 percent less than the year before as the semiconductor company's profits fell 39 percent.
Richard K. Templeton's compensation was detailed in a regulatory filing Friday by Texas Instruments, the world's largest maker of chips for mobile phones.
Templeton, 49, received $932,120 in salary, a $2.4 million performance-related bonus, stock awards valued at nearly $6.9 million and $111,417 in other compensation, according to the proxy statement filed with the Securities and Exchange Commission.
The decline in Templeton's compensation was due to less-lucrative stock and option grants. In 2006, he got grants valued at nearly $9 million when they were issued. The CEO's incentive payment was slightly largely than the one he got in 2006.
The "other compensation" category included a pension contribution of $70,063, as well as $23,425 for personal use of company aircraft.
The Associated Press calculations of total pay include executives' salary, bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the value of pension benefits, and they can differ from the totals companies list in the summary compensation table of proxy statements.
Texas Instruments earned $2.66 billion last year, down from $4.34 billion the year before, and revenue also slipped to $13.84 billion from $14.26 billion.
The company also suffered setbacks when Nokia Corp., its largest customer, and Sony Ericsson decided to seek other suppliers for their handsets.
Templeton said Friday that, even so, Texas Instruments increased its wireless business in the fourth quarter compared to a year earlier. And he said his company would continue to be the largest supplier to Nokia.
Shares in the Dallas-based company rose 16 percent last year. They rose sharply early in the first half of 2007, then teetered downward the rest of the year. The shares of fellow chip-maker Intel Corp. fared better last year, but Qualcomm Inc. and Broadcom Corp. did worse.
Texas Instruments is scheduled to give an update on first-quarter results on Monday.
The company scheduled its annual stockholder's meeting for April 17 at the company cafeteria in Dallas.
Chairman Tom Engibous plans to retire after the meeting, and Templeton, who also succeeded Engibous as CEO, is taking on the chairman's role too.
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On the Net:
http://www.ti.com
Richard K. Templeton's compensation was detailed in a regulatory filing Friday by Texas Instruments, the world's largest maker of chips for mobile phones.
Templeton, 49, received $932,120 in salary, a $2.4 million performance-related bonus, stock awards valued at nearly $6.9 million and $111,417 in other compensation, according to the proxy statement filed with the Securities and Exchange Commission.
The decline in Templeton's compensation was due to less-lucrative stock and option grants. In 2006, he got grants valued at nearly $9 million when they were issued. The CEO's incentive payment was slightly largely than the one he got in 2006.
The "other compensation" category included a pension contribution of $70,063, as well as $23,425 for personal use of company aircraft.
The Associated Press calculations of total pay include executives' salary, bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the value of pension benefits, and they can differ from the totals companies list in the summary compensation table of proxy statements.
Texas Instruments earned $2.66 billion last year, down from $4.34 billion the year before, and revenue also slipped to $13.84 billion from $14.26 billion.
The company also suffered setbacks when Nokia Corp., its largest customer, and Sony Ericsson decided to seek other suppliers for their handsets.
Templeton said Friday that, even so, Texas Instruments increased its wireless business in the fourth quarter compared to a year earlier. And he said his company would continue to be the largest supplier to Nokia.
Shares in the Dallas-based company rose 16 percent last year. They rose sharply early in the first half of 2007, then teetered downward the rest of the year. The shares of fellow chip-maker Intel Corp. fared better last year, but Qualcomm Inc. and Broadcom Corp. did worse.
Texas Instruments is scheduled to give an update on first-quarter results on Monday.
The company scheduled its annual stockholder's meeting for April 17 at the company cafeteria in Dallas.
Chairman Tom Engibous plans to retire after the meeting, and Templeton, who also succeeded Engibous as CEO, is taking on the chairman's role too.
___
On the Net:
http://www.ti.com
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