Parlaying Intel Corp.’s success in the first half of 2000, Andy D. Bryant, the company’s CFO, exercised over $10 million in options last year.
Further, according to the Santa Clara, Calif.-based chip maker’s recently released proxy, Bryant took home $260,000 in salary and $166,100 in other compensation.
On top of that, he received a bonus of $1,309,400. Bryant’s bonus, like those paid to each of the company’s executive officers, was less than the maximum allowed under an Intel formula (because of the compensation committee’s exercise of discretion). Still, $25,000 of his bonus was given to him in recognition of expanded responsibilities.
With the $10,028,583 worth of options that Bryant exercised in 2000, his total compensation was $11,764,083.
In 1999, Bryant’s bonus was $1,060,700. That year, he received $240,000 in salary and $126,400 in other compensation. Total Compensation: $1,427,100.
Intel’s revenue for 2000 was $33.7 billion, up 15 percent from 1999, resulting in the company’s fourteenth consecutive year of revenue growth. Net income, excluding acquisition-related costs, was $12.1 billion, up 49 percent from $8.1 billion in 1999.
“This was a year of record annual revenue and earnings; yet, slowing economic conditions impacted fourth quarter growth and are causing near- term uncertainty,” said Craig R. Barrett, Intel’s president and chief executive officer.
The company’s best estimate, given the high level of economic uncertainty, is that revenue for the first quarter of 2001 will be down 15 percent, plus or minus several points, from fourth quarter revenue of $8.7 billion, because of seasonal factors and the impact of slowing worldwide economies.
Intel’s shares were up $2.52, or a little over 10 percent, to $27.29 on Nasdaq in morning trading. They have ranged from $22.25 to $75.81 over the past 52 weeks.