Massachusetts firms make big blunders in reporting executive pay - The Boston Globe
Massachusetts firms make big blunders in reporting executive pay - The Boston Globe
In its
annual report on executive pay last spring, Verenium Corp. of Cambridge
told shareholders its top lawyer had earned less than $629,000 in 2008.
In fact, he earned nearly twice that amount.
SeaChange International Inc. of Acton understated how much it paid a top officer last year by $200,000.
And a Bedford medical products maker, Hologic Inc., misstated the compensation for several executives by as much as $275,000 each.
These
are among the dozens of mistakes publicly traded companies in
Massachusetts made in reporting executive compensation to shareholders
and federal regulators over the past few years, according to a Globe
review of documents filed with the Securities and Exchange Commission.
The
errors ranged from $20 to more than half a million dollars. And
companies seemed as likely to overstate pay as to underreport it.
There is no evidence of deliberate efforts to deceive investors. But
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