Saturday, February 21, 2009

Adobe CEO'S 2008 compensation valued at $16.4M

"Shantanu Narayen, the chief executive of Acrobat software maker Adobe Systems Inc., was awarded compensation valued at $16.4 million in fiscal 2008, although the vast majority of that was in stock options that currently have little value.

About $14.2 million of the compensation was in stock options that have a strike price of $34.64 and vest through 2015, according to an analysis by The Associated Press of a proxy statement filed Friday with the Securities and Exchange Commission.

Adobe's shares closed Friday at $18.04, so it could be some time before they are worth cashing in. They could also expire worthless.

SEC rules require Adobe and other public companies to provide an estimated value of the option on the date they were granted, knowing that executives have several years to decide when — or if — to exercise options."

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