IBM chief’s pay up 19 percent

NEW YORK – The pay package for IBM’s chief executive, Sam Palmisano, rose 19 percent in 2010 from a year earlier, to $25.2 million, thanks to a near-doubling of his performance-based bonus, according to a review of a securities filing.

International Business Machines Corp. cited annual earnings per share of $11.52, above the goal of $10 to $11 it set in 2007. It also noted increased dividends and a significant level of share buybacks.

Associated Press