Massachusetts firms make big blunders in reporting executive pay - The Boston Globe

1 followers
0 Likes

Massachusetts firms make big blunders in reporting executive pay - The Boston Globe


 







The Boston Globe

In reporting pay, firms can err big


Figures on executives off by up to $500,000





By
Todd Wallack





Globe Staff

/
October 4, 2010









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


more...




 


 


 

0 Replies
Reply
Subgroup Membership is required to post Replies
Join ECE - Equity Compensation Experts now
Dan Walter
about 14 years ago
0
Replies
0
Likes
1
Followers
317
Views
Liked By:
Suggested Posts
TopicRepliesLikesViewsParticipantsLast Reply
RSUs & McDonalds CEO Sex Scandal
Bruce Brumberg
over 4 years ago
00156
Bruce Brumberg
over 4 years ago
ESPPs Provided Big Gains During March-June Market Swings
Bruce Brumberg
over 4 years ago
00155
Bruce Brumberg
over 4 years ago
myStockOptions.com Reaches 20-Year Mark
Bruce Brumberg
over 4 years ago
00186
Bruce Brumberg
over 4 years ago