Dell Inc. CEO Michael Dell is a rich guy, but that doesn't mean he took home the biggest paycheck at Dell.
According to a recent filing with the SEC, Dell's parent company, Denali Holding Inc., reported the compensation of Dell's top executives in fiscal year 2016, which is basically most of 2015. (Though Dell is a private company, it is reporting more information about its financial status because it is acquiring publicly-traded EMC Corp.)
Michael Dell took home $2.4 million last year, including salaries, bonuses and benefits. But every other top Dell executive earned more, in part thanks to bigger bonuses or the cashing in of stock options.
Here's how that breaks down:
But don't forget to read the fine print. A footnote on this compensation information explains that there were additional cash payouts to executives that came due in fiscal year 2016 that were part of taking Dell private in 2013.
That means Michael Dell also took home an additional $8.9 million, Sweet received $169,364, Clarke received $684,626 and Haas received $439,467.
The filing also notes that in fiscal year 2016 Read received a "long-term cash award" of $15 million, which will vest on an annual basis over five years beginning in May. He is eligible for this because he was hired last fiscal year.
Also, there are plenty more stock option awards to be enjoyed in the coming years:
But as Business Insider notes, what Dell Inc. executives are earned this most recent year is less than executives typically earned, through the company's then-publicly traded stock, in 2013.
In February Re/code reported that Dell Inc. sent out a memo to employees noting that bonuses would be lower than expected due to missing some financial targets. Dell Inc. reported that its revenue dropped nearly 6 percent year-over-year to $54.9 billion, and reported a loss of $1.1 billion, an improvement from the $1.2 billion loss the year before.
About the Author
