As chance would have it MSPD and VTSS have both just hired new Chief financial officers and been forced to disclose their respective compensation packages.
Here they are:
VTSS
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8068401-848-12341&type=sect&dcn=0001104659-11-042019
and MSPD
http://biz.yahoo.com/e/111024/mspd8-k.html
You would have to be really bored to read this but what can I say. Here is the short take
Both base salaries are IDENTICAL: $285,000 per year
MSPD: included a $60,000 cash bonus with 40,000 stock options
VTSS: no cash bonus but a "target award amount" (almost certainly cash) of $114,000 with a maximum award of $171,000; and 50,000 stock options.
My guess is they are both using the same compensation consultants. However, VTSS will end up paying at least 40% more (and could easily be 50-60% more) on an annual basis since the "target award amount" is recurring annually while the signing bonus MSPD paid is a one time outlay. Plus VTSS granted 10,000 shares more stock options.
Posted by dlog - 14 years ago
If we hired the guy that handled the communications business and overall strategy for the industry leader, I’d have no complaints about paying more. But Mindspeed got that guy and we got a financial consultant with only marginal experience in our business at third tier companies. I wonder if Gardner even tried to recruit him from Broadcom, and if he did, who said no. Are we unable to entice industry heavyweights or is Gardner just too insecure to bring them in?
Posted by thereinman - 14 years ago
I did not want to start a separate topic, but just noticed that in spite of our great new CFO & the fact that we shipped 5 million widgets, Schwab has seen fit to grade us with an F again.
Our fleeting rise to a D is now just a memory!
Just like my funds, my interest in all things Vitesse has waned severely. For once, I don't care about "the next call".
Maybe this truly is the bottom.....
Posted by par4corsfl - 14 years ago
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