Akamai CEO Paul Sagan netted $6 million last year, down from $7.1 million in 2009. President David Kenny took home a $6.6 million pay package, including a new hire equity grant worth $6 million.
Akamai Technologies CEO Paul Sagan (pictured) received compensation valued at $6 million last year, according to documents filed this week with the U.S. Securities and Exchange Commission. His total package is down 15% from 2009, when he received compensation valued at $7.1 million.
President David Kenny, meanwhile, netted a $6.6 million package in 2010. Kenny, who has been a member of the company's board of directors since 2007, became president of Akamai effective Sept. 7. His employment agreement included a new hire equity grant worth $6 million ($4 million in stock options and $2 million in restricted stock units).
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Kenny's pay package also includes a $218,619 salary, a performance-based cash bonus of $208,894, and equity awards valued at $199,990 (granted during his capacity as a non-employee director).
For CEO Sagan, the bulk of his 2010 pay package came in the form of equity awards, including stock awards valued at $3 million (down from $4.1 million in 2009) and option awards valued at $986,667 (down from $1.3 million).
Sagan's pay package also includes a $602,710 salary (which is up 12% from the $536,113 salary he received in 2009) and a performance-based cash bonus of nearly $1.4 million (up 35% from $1 million). He received no other compensation or perquisites.
The company, meanwhile, grew revenue and profits by 19% and 17%, respectively, in its 2010 fiscal year ended Dec. 31. Revenue came in at $1.02 billion, up from $860 million in 2009. Net income hit $171 million, up from $146 million in the prior year.
Total pay for Sagan and Kenny is calculated using data supplied in a proxy statement filed with the SEC on April 6. The following figures are taken from the summary compensation table: salary, stock awards, option awards, non-equity incentive place compensation (bonus), and all other compensation. The estimated value of stock options represents the aggregate grant date fair value of option awards granted during the fiscal year.