Intuitive Surgical's Stock Up, CEO Compensation Down
According to a proxy statement filed with the Securities and Exchange Commission, Smith received just under $4.2 million in total compensation, down 56 percent from 2008. His salary rose 2.4 percent to $508,700 while his performance bonus fell 2.1 percent to $382,000.
Meanwhile, he received stock options worth just under $3.3 million on the day they were granted, marking a decline of 62 percent from $8.7 million a year ago. The company's shares closed the year at $303.43, nearly triple the $107.27 value of the stock options when they were granted on February 17, 2009.
The company performed well in 2009, despite continued economic pressures that have prompted hospitals to cut back on spending. For the full year, profit rose 14 percent to $232.6 million, or $5.93 per share, on a 20 percent boost in revenue to $1.05 billion.