Biogen CEO gets $15.2M in 2006 |
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Thu, 26 Apr 2007 01:11
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NEW YORK (AP) - Biogen Idec Inc. President and Chief Executive James C. Mullen in 2006 received total compensation valued by the biotechnology company at just over $15.2 million, according to its proxy statement filed Wednesday.Mullen received $1.1 million in salary, $2 million in non-equity incentive plan compensation and $69,131 in other compensation, which included company contributions made to his 401(k) plan and reimbursements for personal financial and tax planning.The bulk of Mullen's remuneration came in the form of restricted stock units and stock options with an estimated value of $12 million on the day they were granted last year.The Associated Press' calculations of total pay include executives' salary, bonus, incentives, perks, and the estimated value of stock options and awards granted during the year. The calculations do not include changes in the present value of pension benefits.Shares of Cambridge, Mass.-based Biogen fell 28 cents to close at $48 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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