Sunday, June 04, 2006

Yahoo CEO paid $1, a fistful of options and scoops a $40M pad in Long Island - its tough at the top!

Yahoo has granted Chairman and CEO Terry Semel an option to buy 6 million company shares as a retention incentive. (You betcha!)

The Sunnyvale, Calif., Internet company said in a filing with the SEC that it also set Mr. Semel's annual salary at $1 for the 2006-2008 period. Semel had received a $600,000 salary for at least the past three years, according to Yahoo's most recent proxy.

In addition, he will be eligible for an annual bonus in the form of a fully vested stock option for up to one million shares, the company said.

And who said option based exec compenstaion was dead. And it seems to be making Semel a pile (as it probably should given his success with Yahoo!) - for he just forked out over $40M for five acres in Long Island. WOW - all that on a $1 salary!

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