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How many shares does a new Applied Materials director get these days? |
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Apr 30, 2008 at 08:01 AM |
James "Jim" Rogers' appointment to the Applied Materials' board of directors adds a seasoned nonsemi industry pro to the mix.
As chair/CEO/president of Duke Energy, a humongous electric power company that serves a swath of the US Midwest and Carolinas region, he comes in with heavy-hitting (and heavy carbon) credentials. He'll serve on the AMAT board's HR/compensation and strategy committees.
How many AMAT shares has Jim received as he starts his board duties? According to the SEC Form 4 filed earlier today (April 29), he gets 20,000 shares (out of the over 1.1 billion shares outstanding), which will start to vest in four equal chunks a year from now. At today's close, Applied's share price closed at $19, so if his allotment were to be cashed in (which it can't be, but bear with me), he'd garner $380,000. A nice chunk of change for most of us, but not that much for those hovering in the most stratospheric tax brackets. My brother in law, who serves on the board of a small business bank, receives stock worth just a little less than Rogers' allotment for his directorial efforts--at least on paper. [Ed. note--Paragraph corrected from original text.]
How does that compare with the holdings of Mike Splinter and Jim Morgan, AMAT's big kahunas? Small potatoes. Morgan holds more than 3.1 million shares at last count, while Splinter has over 937,000--which makes them Applied's two largest individual shareholders.
But then, Rogers has a trunkload of Duke Energy shares (he doesn't collect a salary there--his wages are totally stock based), so he probably didn't take the AMAT board gig for the money.
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