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COMPENSATION FOR TOP NETSUITE EXECS DROPS

Pay for the two top executives at NetSuite, CEO Zach Nelson and founder and chairman Evan Goldberg, fell from the clouds in 2009 as the value of stock awards plunged and option awards were down, but not quite as sharply. Nelson received $3.24 million in compensation last year, down from $4.35 million for 2008. That was primarily due to the fact that he received $1.68 million in stocks awards last year, down 45.4 percent from the prior year.
His option awards of $773,280 were off by just under 20 percent from the 2008 level. Last year’s pay of $2.33 million for Goldberg was 19.8 percent lower than  the $2.9 million he received in 2008, owing to a 22-percent drop in stock awards, which totaled $1.35 million last year. Compensation for CFO Jim McGeever rose to $1.97 million from $1.9 million. However, his pay might change this year since his promotion to the newly created position of chief operating officer was announced this week.
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