Dell Chief Financial Officer James Schneider sold 1,136,000 shares for a gain of $30.09 million, leaving himself at the end of the fiscal year with 868,249 exercisable options and 1,591,040 options that can not yet be exercised.
That means Schneider sold 32 percent of his total options or 57 percent of those he had the right to exercise, according to a shareholder proxy statement Dell released on Thursday evening. Executives also disclose options exercises as they occur during the year.
Schneider received 650,000 options in fiscal 2004, which ended in January, up from 400,000 the previous year. His salary was $500,000, up from $417,692 the previous year, while his bonus rose to $720,000 from $643,507.
Chief Operating Officer Kevin Rollins, who will become chief executive after the shareholder meeting in July, sold 1,170,000 shares for a gain of $35.94 million.
That left him at the end of the fiscal year with 7,877,575 exercisable options and 5,194,791 unexercisable options. The 1.17 million shares are 8 percent of his total options, or 13 percent of exercisable options.
Rollins received 800,000 options, up from 500,000 the previous year. His salary rose to $797,115 from $770,962 while his bonus fell to $1.72 million from $2.01 million.
Chairman and Chief Executive Michael Dell did not exercise any options in 2004. His salary was unchanged at $950,000 while his bonus fell to $2.05 million from $2.48 million a year earlier. He received 800,000 options, up from 500,000 a year earlier.
The Round Rock, Texas company said in the filing that the size of stock option grants is based primarily on the dollar value of the award granted. The size of the award can also depend on individual factors.