ITRI » Topics » Summary Compensation Table

This excerpt taken from the ITRI DEF 14A filed Mar 26, 2007.

Summary Compensation Table

The following table provides information regarding compensation of the Company’s CEO, CFO and our other most highly compensated executives (the NEOs) during 2006 who were serving as such as of the end of the year. The amounts shown include amounts deferred at the executive’s election. All numbers are rounded to the nearest dollar.

 

Name and Principal Position

  Year   Salary ($)   Bonus
($)
  Stock
Awards
($)(1)
  Option
Awards ($)(1)
  Non-Equity
Incentive Plan
Compensation
($)(2)
  Change
in Pension
Value and
Nonqualified
Deferred
Compensation
Earnings ($)(3)
  All Other
Compensation
($)(4)
  Total ($)

LeRoy Nosbaum

    Chairman/CEO

  2006   $  650,000   n/a   $ 193,380   $   261,993   $   514,800   $ -   $ 17,320   $ 1,637,493

Steve Helmbrecht

    Senior Vice President and CFO

  2006   $ 300,000   n/a   $ 66,994   $ 379,397   $ 148,500   $ -   $ 6.600   $ 901,491

Philip Mezey

    Senior Vice President Software Solutions

  2006   $ 300,000   n/a   $ 64,207   $ 404,998   $ 148,500   $ 1,662   $ 22,006   $ 941,373

Malcolm Unsworth

    Senior Vice President Hardware Solutions

  2006   $ 300,000   n/a   $ 66,994   $ 463,827   $ 148,500   $      2,480   $     22,707   $ 1,004,508

Jared Serff

    Vice President Competitive Resources

  2006   $ 205,000   n/a   $ 47,682   $ 255,517   $ 85,239   $ 536   $ 15,076   $ 609,050

(1)

These columns reflect the dollar amounts recognized for financial statement reporting purposes for the fiscal year ended December 31, 2006, in accordance with Statement of Financial Accounting Standards No. 123(R), for awards granted under our Long-Term Performance Plan and Amended and Restated 2000 Stock Incentive Plan and thus include amounts from awards granted in and prior to 2006. See Note 15 of the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2006 regarding assumptions underlying the valuation of these equity awards.

 

(2)

This column reflects the cash awards earned by the named executives under our annual incentive program discussed under the caption “Annual Incentive” in the Compensation Discussion and Analysis.

 

(3)

Represents “above market” earnings on Itron’s Executive Deferred Compensation Plan, calculated as the difference between monthly compounded earnings credited on plan balances (8% annually) and earnings credited at a rate equal to 120% of the Applicable Federal Rate, or 5.89%. This is further discussed in the Compensation Discussion and Analysis under the caption, “Perquisites and Other Benefits.”

 

(4)

Includes annual credit value utilized under Itron’s Executive Flex Benefit Plan for L. Nosbaum - $9,277 ($275 for financial planning, $1,630 for tax preparation, $6,087 for medical costs, $1,277 for additional life insurance, and $8 for improved long-term disability) and club fees of $1,443. Also includes Company contributions to the 401(k) plan (L. Nosbaum - $6,600; S. Helmbrecht - $6,600; P. Mezey - $6,600; M. Unsworth - $6,600; J. Serff - $5,649) and Executive Deferred Compensation Plan (P. Mezey - $15,406; M. Unsworth - $16,107; J. Serff - $9,427). These benefits are further discussed in the Compensation Discussion and Analysis under the caption “Perquisites and Other Benefits.”

 

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This excerpt taken from the ITRI DEF 14A filed Mar 11, 2005.

Summary Compensation Table

 

     Annual Compensation

   Long-Term
Compensation


   All Other
Compensation($)(2)


        Securities
Underlying
Options (#)


  

Name and Principal Position


   Year

   Salary ($)

   Bonus ($)(1)

     

LeRoy D. Nosbaum

Chairman and

Chief Executive Officer

   2004
2003
2002
   $
 
 
415,384
400,000
400,000
   $
 
 
19,800

397,879
   10,000
8,000
   $
 
 
15,665
10,747
10,419

Robert D. Neilson

President and

Chief Operating Officer

   2004
2003
2002
    
 
 
363,462
350,000
348,846
    
 
 
14,300

282,938
   10,000
8,000
    
 
 
16,788
12,025
16,496

Philip C. Mezey(3)

Group Vice President & General Manager,

Software Solutions

   2004
2003
2002
    
 
 
250,482
148,356
    
 
 
62,775
335,887
   65,000
22,000
    
 
 
18,874
4,944

Malcolm Unsworth(4)

Group Vice President & General Manager,

Hardware Solutions

   2004
2003
2002
    
 
 
125,000

    
 
 
173,333

   75,000

    
 
 
1,215

David G. Remington(5)

Sr. Vice President and

Chief Financial Officer

   2004
2003
2002
    
 
 
285,577
274,327
250,000
    
 
 


121,352
   10,000
8,000
7,500
    
 
 
290,223
16,816
16,104

(1)   Includes annual incentive amounts earned under the Company’s Executive Incentive Compensation Plan, which are typically paid in the following year, special retention bonuses for Messrs. Mezey and Unsworth and a payment due Mr. Unsworth under Schlumberger Electricity Metering’s bonus plan that was assumed by the Company. Also includes discretionary bonuses in 2004 in the amounts of $19,800, $14,300 and $5,775 for Messrs. Nosbaum, Neilson, and Mezey, respectively.
(2)   Consists of matching contributions to a 401(k) savings plan ($6,500 for each of Messrs. Nosbaum, Neilson, Mezey and Remington), matching contributions to a deferred compensation plan ($6,240 and $7,489 for Messrs. Mezey and Remington, respectively) reimbursed medical and other expenses ($8,361, $10,008 and $5,947 for Messrs. Nosbaum, Neilson, and Mezey, respectively) group term life insurance premiums ($804, $280, $187, $1,215 and $1,234 for Messrs. Nosbaum, Neilson, Mezey, Unsworth and Remington, respectively) and, for Mr. Remington, a lump sum payment of $275,000 as part of his Agreement with the Company at the time of his retirement.
(3)   Prior to March 10, 2003, Mr. Mezey was Senior Vice President of Product Development and Strategy for Silicon Energy, Inc.
(4)   Prior to July 1, 2004, Mr. Unsworth was President of Schlumberger Electricity Metering, Inc.
(5)   Mr. Remington retired as Senior Vice President and Chief Financial Officer on December 31, 2004 and became a part-time employee of the Company at that time.

 

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