Reporting Matt Roush
DETROIT (WWJ) – Compensation for top executives at Compuware Corp. plunged last year based on smaller stock awards and bonuses, according to the company’s annual proxy statement.
The statement, released Thursday, says that Compuware’s annual shareholder meeting will be held at 3 p.m. Tuesday, Aug. 23 at Compuware’s corporate offices, One Campus Martius, Detroit.
The statement — like all proxy statement from companies whose stock is publicly traded on federally regulated stock exchanges — also includes information on the compensation of the company’s five most highly compensated employees.
Compuware co-founder Peter Karmanos Jr. earned $4,809,541 in his final year as chairman and CEO. That’s down by nearly half from $8,592,364 in the prior year.
Karmanos’ base salary was unchanged at $1.2 million, but his bonuses were far smaller last year than the year before. Karmanos received $1,199,993 in stock awards, vs. $3,222,530 a year earlier, and $2,394,000 in “non-equity incentive plan compensation,” down from $3,582,000 a year earlier. Karmanos also got no bonus in 2011 vs. $360,000 a year earlier.
The man who will take over for Karmanos as CEO this year, Bob Paul, earned $2,605,484 last year, down from $4,351.236 a year earlier. His base salary was $650,000, up from $550,000 a year earlier. But he received $649,994 in stock options vs. $1,271,229 in stock awards and $711,350 in option awards the year before, and $1,296,750 in non-equity incentive plan compensation, down from $1,641,750 a year earlier. Paul also received no bonus vs. $165,000 a year earlier.
Compuware CFO Laura Fournier earned $2,000,302 last year, down from $3,389,516 a year earlier. Her base salary was $500,000, up from $450,000 a year earlier. She received $499,996 in stock awards, down from $1,461,266 a year earlier, and $997,500 in non-equity incentive plan compensation, vs. $1,343, 250 a year earlier. She also received no bonus vs. $135,000 a year earlier.
Compuware’s other top two most highly paid executives also saw reductions in pay, though not as sharp as the top three.
Chief administrative officer Denise A. Starr received a total of $1,123,969 in 2011, down from $1,344,560 in 2010. And Patrick A. Stayer, executive vice president for worldwide solutions, received $1,008,813, down from $1,111,777 a year earlier.