FRAMINGHAM, 16 MARCH 2011 - Motorola Solutions CEO Greg Brown netted a 62% pay increase in 2010, while Motorola Mobility CEO Sanjay Jha more than tripled his compensation. The two chiefs oversaw Motorola's split into two separate companies, which was finalized in January of this year.
Brown, who runs the enterprise-focused Motorola Solutions, received $13.7 million in 2010, up from $8.5 million in 2009. His pay package included a $900,000 salary and $5.9 million performance-based cash bonus. Brown's salary is nearly equivalent to his 2009 salary, while his bonus represents a seven-fold increase from the $836,931 bonus he earned a year earlier.
Roughly half of Brown's 2010 compensation came in the form of equity awards. He received stock awards valued at $3.3 million at the time they were granted (up 41% from the $2.4 million he received in 2009) and option awards valued at $3.4 million (down 16% from $4 million in 2009).
His other compensation and perquisites totaled $237,919, which includes: $133,530 for personal use of company aircraft; $16,748 for personal use of a car and driver; $42,148 for legal fees, security system monitoring, financial planning, guest attendance at a company event, and 401(k) matching contributions; and $26,849 for tax gross-ups.
For his part running Motorola's consumer, home and smartphone product lines, Jha received a $13 million pay package, up from $3.8 million in 2009. His compensation included a $900,000 salary, which is nearly equivalent to his 2009 salary, and a $1 million performance-based cash bonus, which is down 17% from $1.2 million a year ago. (By comparison: See how much tech CEOs made in 2009.)
The bulk of Jha's 2010 compensation came in the form of equity awards. He received stock awards valued at $3 million at the time they were granted (more than double the $1.3 million he received in 2009) and option awards valued at $7 million (after receiving no option awards in 2009).
Jha also racked up the perks in 2010, netting $388,623 in compensation extras. His perks included $186,189 for personal use of company aircraft, $61,243 for temporary housing, $50,633 for personal use of a car and driver, $25,348 for legal fees, $55,159 for tax gross-ups, and $4,900 for company 401(k) contributions.
Jha's $13 million tally also included a $426,000 discretionary bonus and $278,000 incentive-based bonus that he opted not to receive, according to Motorola Mobility's proxy statement. "Although foregone and not received, these amounts are included in the table for 2010 in accordance with the SEC rules and interpretations," the company stated.
Total 2010 pay for Brown and Jha is calculated using data supplied in proxy statements filed with the SEC on March 15. The following figures are taken from the summary compensation tables: salary, bonus, stock awards, option awards, non-equity incentive plan compensation, and all other compensation. The estimated value of equity awards represents the grant date fair value of performance shares and stock options granted during the fiscal year.
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