Tyco pays CEO Breen $10.7 million
WASHINGTON (Dow Jones/AP) ? Tyco International Ltd. paid its top executive $10.7 million in the fiscal year that ended September, excluding options, according to a regulatory filing yesterday.
According to the proxy statement, the manufacturing conglomerate, which is based in Bermuda but run primarily from Princeton, New Jersey, paid chairman and chief executive Edward D. Breen a $3.12 million bonus in fiscal 2004, more than double the $1.5 million awarded in fiscal 2003.
Tyco paid Breen a salary of $1.54 million in fiscal 2004, up from $1.5 million in fiscal 2003, the Securities and Exchange Commission filing said.
The company granted Breen 200,000 restricted shares in fiscal 2004 valued at about $5.56 million at the time of grant, which was March 26, 2004.
Breen?s fiscal 2004 compensation included $271,936 of ?other annual compensation? and $228,315 of ?all other compensation?.