EMC chief Tucci nets 37 percent pay raise to $12.4 million

Majority of compensation came from shares and options

EMC CEO Joe Tucci's overall pay package for 2010 was US$12.4 million, a 37 percent rise on his compensation for 2009, according to documents filed on Thursday with the US Securities and Exchange Commission.

The company, meanwhile, grew revenue and profits by 21 percent and 75 percent, respectively, in its 2010 fiscal year ending December 31. Revenue came in at $17 billion, up from $14 billion in 2009. Net income attributable to EMC (which excludes VMware-related income) was $1.9 billion, up from $1.1 billion in the prior year.

Tucci received a $1 million salary, which is up 15 percent from the $872,308 salary he received in 2009. He also took home a performance-based cash bonus of $2.6 million, which is more than double the $1.1 million bonus he received in 2009.

The bulk of Tucci's 2010 compensation came in the form of equity awards. He received stock awards valued at $7.4 million at the time they were granted (up 23 percent from $6 million in 2009) and option awards valued at $1.3 million (up 39 percent from $962,085 in 2009).

His other compensation and perquisites totalled $151,184, which includes: $134,684 for personal use of company-owned aircraft, $15,000 for financial planning, and $1,500 for matching 401(k) contributions.

Tucci's total pay is calculated using data supplied in a preliminary proxy statement filed with the SEC on March 3.

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