The CEO of the cosmetic therapy developer Allergan won $13.6 million in total compensation for last year, a 20 percent hike over 2007. David E.I. Pyott's pay was detailed in the company's latest SEC filing.
Most of the increase, though, came from stock awards that are now worth a whole lot less than when they were granted in early 2008. His options and restricted stock were worth $10.9 million when the shares were issued. But Allergan's stock has sunk as the demand for its cosmetic therapies--including Botox--declined. Its shares are now trading around $40.
Pyott's salary came in at $1.35 million, up a modest 4.4 percent.
- read the AP report [1]
Also: Wall Street is abuzz today with talk that Allergan may be on the block. Options traders have snapped up 13,000 April contracts--way beyond the normal volume. Apparently, they were set in motion by a web report that GlaxoSmithKline might be interested in the company. Report [2]
Related Articles:
Bristol, Allergan chiefs nab big raises [3]
Anticipating sales declines, Allergan cuts 460 [4]
FDA approves Allergan's eyelash-growth drug [5]
Cosmetic pharma remains steady in downturn [6]
Links:
[1] http://www.google.com/hostednews/ap/article/ALeqM5jbx60wazGUWlguDjUrUa5iipBPeQD973U2E00
[2] http://www.fiercepharma.com/story/allergan-stock-soars-deal-rumors/2009-03-24
[3] http://www.fiercepharma.com/story/bristol-allergan-chiefs-nab-big-raises/2009-03-24
[4] http://www.fiercepharma.com/story/anticipating-sales-declines-allergan-cuts-460/2009-02-04
[5] http://www.fiercepharma.com/story/fda-approves-allergans-eyelash-growth-drug/2008-12-27
[6] http://www.fiercepharma.com/story/cosmetic-pharma-remains-steady-downturn/2008-12-24