Source: The compensation data in this chart was provided by Star Services of San Francisco and was derived from proxy and 10K filings of California's 100 largest publicly held companies, as ranked by revenue.
Who is listed: The adjacent chart lists the top-ranking officer at each company, usually the chief executive officer. In a few cases, we have cited the president or chairman of the board rather than the CEO because historic salary trends indicate that this is the top officer.
For the Record
Los Angeles Times Wednesday June 8, 1994 Home Edition Business Part D Page 2 Column 3 Financial Desk 2 inches; 64 words Type of Material: Correction
Executive pay--Charts in the special report on executive pay published Sunday, May 29, misstated the gains realized by executives at Advanced Micro Devices Inc. from the exercise of stock options. W.J. Sanders, chairman and chief executive, exercised $8.28 million worth of options in 1993. The company's president, Richard Previte, reported $2.85 million in stock option gains. Stock gains for Vice Chairman Anthony B. Holbrook totaled $2.42 million.
Total compensation: Includes salary, bonus and reported value of stock options granted during the year, value of restricted stock awards, long-term compensation. "Other" compensation includes company-paid perks, relocation allowances, severance payments and retirement pay.
Stock options granted: The figures in this column are those reported by each company. They may have been calculated in one of two ways. Some companies report the present value of the options based on a complex formula called the Black-Scholes method. (These figures are marked with a * in the chart.) Others report the future value of the options based on the assumption that the stock will appreciate 5% a year. The 5% method typically results in a higher value than the Black-Scholes method.
Stock awards: Restricted stock awards are gifts of stock that usually become free of restrictions after a certain period or after performance goals have been met. The listed value of the award represents the value of the underlying stock on the date of the grant.
Stock options exercised: This column lists the difference between the market price of an officer's stock and the price at which the option to purchase it was exercised, as of the date of purchase. Figures in this column are not added to the executives' "total compensation" for 1993, because the gains are earned over a period of years, even though they're recognized in just one.
Size ranking: This is where the company ranks, based on revenue, among California's 100 largest publicly held companies.