Language Selection

English French German Italian Portuguese Spanish

Yahoo's CEO cashes $230M in stocks in 2004

Filed under
Misc

For Yahoo Inc. Chief Executive Terry Semel, it pays to be wanted. Semel took advantage of a rebound in technology stock prices and sold 10 million shares of Yahoo worth $230 million last year, making his annual haul one of the largest ever for a corporate executive. He still holds $324 million worth of stock he can sell any time and another $71 million of restricted shares.

Meanwhile, the company said in a regulatory filing that it made Semel's pay package even better because he has become an "attractive candidate to competing organizations." The company said it "took aggressive action in 2004 to retain Mr. Semel."

So it gave Semel an additional 1 million stock options he can cash out by the end of this year and another 1 million he can sell in 2006, provided the company meets certain financial goals. Semel can buy the shares at $34.75 each once they vest.

Typically, all those stock options would vest over four years.

Semel also received another 250,000 shares that he can sell in three years. The company did not increase Semel's base pay, which is $600,000 annually.

The former Hollywood movie studio boss flirted briefly with Disney Inc. when it was looking for a successor to chief executive Michael Eisner, who is retiring in October.

Yahoo's market value has tripled since Semel's 2001 arrival, restoring more than $30 billion in shareholder wealth that evaporated after the company's stock crashed from a split-adjusted high of $118.75 per share in 2000. The stock gained 66 percent in 2004.

On Tuesday, Yahoo's stock rose 8 cents to close at $35.15 in trading on the Nasdaq Stock Market.

Semel rejuvenated Yahoo by streamlining its operations, creating more subscription services and positioning the company's Web site as an online advertising hub. He also pulled off several major acquisitions that have boosted the company's profit.

By PAUL ELIAS
AP Business Writer
Source

More in Tux Machines

GNOME and Fedora

  • RFC: Integrating rsvg-rs into librsvg
    I have started an RFC to integrate rsvg-rs into librsvg. rsvg-rs is the Rust binding to librsvg. Like the gtk-rs bindings, it gets generated from a pre-built GIR file.
  • 1+ year of Fedora and GNOME hardware enablement
    A year and a couple of months ago, Christian Schaller asked me to pivot a little bit from working full time on Fleet Commander to manage a new team we were building to work on client hardware enablement for Fedora and GNOME with an emphasis on upstream. The idea was to fill the gap in the organization where nobody really owned the problem of bringing up new client hardware features vertically across the stack (from shell down to the kernel), or rather, ensure Fedora and GNOME both work great on modern laptops. Part of that deal was to take over the bootloader and start working closer to customers and hardware manufacturing parnters.
  • Fedora Atomic Workstation: Works on the beach
    My trip is getting really close, so I decided to upgrade my system to rawhide. Wait, what ? That is usually what everybody would tell you not to do. Rawhide has this reputation for frequent breakage, and who knows if my apps will work any given day. Not something you want to deal with while traveling.
  • 4 cool new projects to try in COPR for February

Why You Shouldn’t Use Firefox Forks (and Proprietary Opera)

  • Why You Shouldn’t Use Firefox Forks Like Waterfox, Pale Moon, or Basilisk
    Mozilla Firefox is an open source project, so anyone can take its code, modify it, and release a new browser. That’s what Waterfox, Pale Moon, and Basilisk are—alternative browsers based on the Firefox code. But we recommend against using any of them.
  • Opera Says Its Next Opera Release Will Have the Fastest Ad Blocker on the Block
    Opera Software promoted today its upcoming Opera 52 web browser to the beta channel claiming that it has the faster ad blocker on the market compared to previous Opera release and Google Chrome. One of the key highlights of the Opera 52 release will be the improved performance of the built-in ad blocker as Opera claims to have enhanced the string matching algorithm of the ad blocker to make it open web pages that contain ads much faster than before, and, apparently than other web browsers, such as Chrome.

Graphics: Glxinfo, ANV, SPIR-V

  • Glxinfo Gets Updated With OpenGL 4.6 Support, More vRAM Reporting
    The glxinfo utility is handy for Linux users in checking on their OpenGL driver in use by their system and related information. But it's not often that glxinfo itself gets updated, except that changed today with the release of mesa-demos-8.4.0 as the package providing this information utility. Mesa-demos is the collection of glxinfo, eglinfo, glxgears, and utilities related to Mesa. With the Mesa-demos 8.4.0 it is predominantly glxinfo updates.
  • Intel ANV Getting VK_KHR_16bit_storage Support Wrapped Up
    Igalia's Jose Maria Casanova Crespo sent out a set of patches today for fixes that allow for the enabling of the VK_KHR_16bit_storage extension within Intel's ANV Vulkan driver. The patches are here for those interested in 16-bit storage support in Vulkan. This flips on the features for storageBuffer16BitAccess, uniformAndStorageBuffer16BitAccess, storagePushConstant16 and the VK_KHR_16bit_storage extension. This support is present for Intel "Gen 8" Broadwell graphics and newer. Hopefully the work will be landing in Mesa Git soon.
  • SPIR-V Support For Gallium3D's Clover Is Closer To Reality
    It's been a busy past week for open-source GPU compute with Intel opening up their new NEO OpenCL stack, Karol Herbst at Red Hat posting the latest on Nouveau NIR support for SPIR-V compute, and now longtime Nouveau contributor Pierre Moreau has presented his latest for SPIR-V Clover support. Pierre has been spending about the past year adding SPIR-V support to Gallium3D's "Clover" OpenCL state tracker. SPIR-V, of course, is the intermediate representation used now by OpenCL and Vulkan.

Security: Updates, Tinder, FUD and KPTI Meltdown Mitigation

  • Security updates for Friday
  • Tinder vulnerability let hackers [sic] take over accounts with just a phone number

    The attack worked by exploiting two separate vulnerabilities: one in Tinder and another in Facebook’s Account Kit system, which Tinder uses to manage logins. The Account Kit vulnerability exposed users’ access tokens (also called an “aks” token), making them accessible through a simple API request with an associated phone number.

  • PSA: Improperly Secured Linux Servers Targeted with Chaos Backdoor [Ed: Drama queen once again (second time in a week almost) compares compromised GNU/Linux boxes to "back doors"]
    Hackers are using SSH brute-force attacks to take over Linux systems secured with weak passwords and are deploying a backdoor named Chaos. Attacks with this malware have been spotted since June, last year. They have been recently documented and broken down in a GoSecure report.
  • Another Potential Performance Optimization For KPTI Meltdown Mitigation
    Now that the dust is beginning to settle around the Meltdown and Spectre mitigation techniques on the major operating systems, in the weeks and months ahead we are likely to see more performance optimizations come to help offset the performance penalties incurred by mitigations like kernel page table isolation (KPTI) and Retpolines. This week a new patch series was published that may help with KPTI performance.