Fiorina Receives $2.9M Bonus

Fiorina didn't receive a bonus in fiscal 2001, according to the HP's proxy filed Thursday with the Securities and Exchange Commission.

The filing said Fiorina's 2002 bonus was partially due to her additional responsibilities after the close of the company's $18.6 billion acquisition of Compaq Computer Corp. on May 3, 2002.

Fiorina received a $1 million salary for fiscal 2002 ending Oct. 31, unchanged due to a base-pay freeze, the filing said.

Additionally, in January 2002, the Palo Alto, Calif.-based computer giant granted Fiorina a long-term incentive award of 850,000 options, which have an exercise price of $21.75 a share, the filing said.

Fiorina didn't exercise any options during fiscal 2002. She holds 4.6 million options, including 2 million vested options with exercise prices above the current stock price.

Shares of Hewlett-Packard closed Friday at $15.85, up 31 cents, or 2 percent, on the New York Stock Exchange.

The proxy filing also noted that Michael Capellas, who resigned as president of HP on Nov. 13, received a severance package valued at $14.4 million - three times as much his annual salary and expected annual bonus.