WASHINGTON (AFX) - Computer Sciences Corp.'s top executive realized $5.12 million from the exercise of stock options to acquire 161,058 shares, according to a regulatory filing Thursday.
According to the Securities and Exchange Commission filing, the El Segundo, Calif., information-technology company also paid Chairman and Chief Executive Van B. Honeycutt a restricted stock award valued at about $8.24 million for the year ended March 31, compared with an award valued at about $7.28 million for the year before.
The company also granted Honeycutt 250,000 stock options for fiscal 2006, up from 230,000 stock options for fiscal 2005, the filing said.
Assuming the company's stock appreciates 5 percent a year until the options' expiration date, the value of the fiscal 2006 stock options is about $6.97 million.
As of March 31, Honeycutt had exercisable stock options valued at $30.65 million and unexercisable stock options valued at $10.35 million, the proxy statement said.
The executive was paid a salary of $1.36 million, compared with $1.29 million in the prior year, according to the filing.
Honeycutt also received 'other annual compensation' in fiscal 2006 of $224,689, up from $177,037 for fiscal 2005, the filing said.
In morning trading, CSC shares slipped 70 cents, or 1.3 percent, to $55.19 on the New York Stock Exchange. The stock rose about 20 percent in the last fiscal year.
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