After asking for a $1.00 base salary in 2001 to reflect Cisco Systems precipitous decline, the firm's president and chief executive John Chambers is back in the chips after his prior base salary of $350,000 has been reinstated, as the firm's financials have improved in recent month.
Dow Jones reported that a Cisco filing with the Securities and Exchange Commission stated that Chambers' compensation including bonus remuneration was $1.9 million, covering the year ended July 31; that reflected improved profits and equity returns. Chambers also exercised two million options for $38.3 million in the last fiscal year, Dow Jones said.
In addition, Chambers held more than 30 million options valued recently at $203 million. The company's stock price, which rose above $70 a share five years ago, was trading this week for slightly over $18.