Teradyne CEO gets '06 pay worth $3.2M |
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Fri, 13 Apr 2007 22:50
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NEW YORK (AP) - Michael A. Bradley, president and chief executive of Teradyne Inc., a supplier of testing equipment for semiconductors and circuit boards, received compensation last year valued at 3.2 million, according to a proxy statement filed Friday.Bradley, 58, received a salary of $625,000 and a bonus of $95,300, according to a document filed with the Securities and Exchange commission. He also received a cash incentive of $787,500 and 'other compensation' of $49,748, which included $38,651 in company contributions to deferred compensation plans, as well as $11,097 in life insurance premiums.More than half of Bradley's compensation package came from restricted stock and stock options that were valued at nearly $1.7 million on the date they were granted, the Waltham, Mass.-company reported.The Associated Press calculates total pay based on salary, bonuses, incentives, perquisites, above-market returns on deferred compensation and the value of stock options and other awards granted during the year. This figure does not include changes in the present value of pension benefits and may differ from the total compensation listed in proxy statements.Teradyne's stock closed 2006 at $14.96 on the New York Stock Exchange, up about 3 percent for the year.The company's net income more than doubled in 2006, totaling $198.8 million, or $1.01 per share. The company called the results solid as a whole, despite low demand in the chip test market during the fourth quarter. Teradyne's 2006 sales grew 28 percent to $1.38 billion.The company employs about 3,800 people worldwide.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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