Hewlett-Packard, the largest technology company in the world, who operates in almost every country, gave its chairman and chief executive Mark Hurd a whopping $42.5 million as compensation package for 2008, this is despite a credit crunch and him making thousands of staff redundant.
According to a regulatory filing made yesterday, the compensation figures reveal that Hurd received $1.5 million in salary, a bonus of $5.3 million, $18.6 million in non-stock incentive plan compensation, awarded $12.9 million in stock and a $4.2 million in option awards, pension payments and expenses.
Hurd had exercised options for 400,000 shares last year, which he sold, making $10 million in the process. The 336,666 restricted shares, which were worth $15.7 million last year, can now be sold off if he so desires.
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