by Marc Bastow | June 4, 2013 9:55 am
By any measure its been a rough year for Dell (DELL) founder and CEO Michael Dell.
Not only is the man-made famous for starting his company in a dorm room at the University of Texas battling to maintain control over his brainchild, but he suffered a pay cut of around 14% as the company’s stock price — and financial performance — lagged.
Of course, Dell’s pay package was still valued at $13.9 million according to the Associated Press, which combines salary, bonus, perks, above-market that a company pays on deferred compensation, and of course stock and options awarded.
By those measures, Dell’s compensation included his $950,000 salary, stock awards valued at $11.6 million, a $1.3 million bonus, and perks and other benefits of just under $20,000. Not included in the calculation was $2 million paid to an aircraft leasing agency for Dell’s travel.
All not so bad for a company that saw its stock price fall to as low as just over $8 per share in 2012. Dell and a group of investors have made an offer to shareholders to take the company private with a $24 billion ($13.65 per share) price tag.
The bid drew the wrath of major shareholders, including Carl Icahn and Southwest Asset Management, and both are now working to crater the proposal, hoping for a better price elsewhere.
Dell’s proposal is scheduled for a shareholder vote on July 18.
Written by Marc Bastow, Assistant Editor at InvestorPlace.com. As of this writing he did not hold a position in any of the aforementioned securities.
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