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News >> Technology >>
CA's Kumar gets restricted stocks
By siliconindia
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Monday, 05 April 2004, 19:30 IST
NEW YORK: Computer Associates International, the software maker embroiled in a long-running probe into its accounting practices, awarded its CEO $8m worth of restricted stock and more than half a million stock options.
On March 31, the firm gave CEO Sanjay Kumar 281,300 shares of its stock, which is vested over three years, as part of its long-term compensation plan, according to its SEC filing.
The shares are valued at $7.9m, based on their closing price of $28.35 on Friday. Kumar did not receive any other stock awards for the fiscal year ended March 31. He also received 281,300 options with exercise prices of $26.8 and 281,300 options with exercise prices of $31.5, respectively. Both expire on March 31, 15 .
Executive compensation is always a hot button at Computer Associates, which has gone through more than three years of proxy battles and government investigations into its revenue recognition practice.