Originally Published MX July/August 2004
BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT
Medical Device Executive Compensation Program Survey|
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A survey of the types of executive compensation programs maintained by medical device companies was conducted by Top Five Data Services Inc. (Fremont, CA) in February 2004. The survey was conducted using proprietary data obtained in January 2004 and from selected 2003 proxy statements filed with the Securities and Exchange Commission. A group of 20 public medical device companies was selected (see Table, below). Some of the companies were divisions of foreign or domestic corporations, while others were stand-alone domestic corporations. The issues examined included the following.
- The types of nonqualified deferred compensation programs used.
- The types of equity-based programs used.
- The existence of employment contracts with change of control provisions.
- The existence of fringe benefits, including automobile allowances, personal use of company aircraft, country or athletic club memberships, financial planning, life insurance, and cellular phones.
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