From the Bloomberg news article Microsoft Gives Bonuses Totaling Almost $1 Billion (Update3) we learn
Aug. 31 (Bloomberg) -- Microsoft Corp. paid out performance bonuses totaling almost $1 billion in restricted stock to 900 of its top executives. One-third of the 37 million shares vest immediately, Redmond, Washington-based Microsoft, the world's biggest software company, said in a regulatory filing today. Chairman Bill Gates and Chief Executive Officer Steve Ballmer were excluded. The company revamped its compensation plan in 2003 to hold onto key executives because many of the stock options granted previously were worthless. Doing so gave the company a way to reward executives and remain competitive with rival employers such as Google Inc. after the stock fell 56 percent in 2001 and 2002.
Aug. 31 (Bloomberg) -- Microsoft Corp. paid out performance bonuses totaling almost $1 billion in restricted stock to 900 of its top executives.
One-third of the 37 million shares vest immediately, Redmond, Washington-based Microsoft, the world's biggest software company, said in a regulatory filing today. Chairman Bill Gates and Chief Executive Officer Steve Ballmer were excluded.
The company revamped its compensation plan in 2003 to hold onto key executives because many of the stock options granted previously were worthless. Doing so gave the company a way to reward executives and remain competitive with rival employers such as Google Inc. after the stock fell 56 percent in 2001 and 2002.
It's September which means our yearly bonuses and raises are around the corner. It looks like I need to think up another excuse for why my girlfriend and I can't go furniture shopping at IKEA. :)