Despite Downturn, Top Tech Firms Awarded Big Restricted-Stock Grants

By PUI-WING
TAM

Even during the recession, Silicon
Valley's top technology firms handed out robust grants of restricted
stock.

According to executive compensation research firm Equilar Inc.,
several Silicon Valley companies provided restricted stock grants to
executives last year that exceeded $20 million based on the fair market
value on their grant dates. Restricted stock is a form of equity
compensation that typically vests over several years.

Top of the heap was Cisco Systems Inc., which
granted eight executives a total of 1.495 million restricted stock units
in 2009. The units had a fair value on their grant dates of $34.98
million, according to Equilar's analysis.

Cisco was followed by Apple Inc., Google Inc. and Hewlett-Packard Co., which
each granted restricted stock to executives valued at more than $20
million last year. Rounding out the top five was Electronic Arts Inc., which
gave $18.99 million in restricted stock to 11 executives in 2009.

Some CEOs especially benefited. The richest restricted-stock package
went to Yahoo Inc.'s Carol
Bartz. She got 801,456 restricted stock units in 2009 that were
valued on their grant dates at $9.52 million. Ms. Bartz joined Yahoo
last year, and her grants partly reflect her recruitment.

Cisco's John Chambers, EA's John Riccitiello, H-P's Mark Hurd and TiVo Inc.'s
Thomas Rogers made up the rest of the top five Silicon Valley CEOs in
terms of restricted stock grants in 2009. Equilar based its analysis on
Securities and

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