The directors and top executives of Dell Inc. had received a total of USD59.1 million as part of the USD24.9 billion leveraged buyout from Michael Dell and Silver Lake Management LLC.
Part of the payout includes partial compensation for options that couldn't be exercised because the conversion amounts were over the purchase offer of USD13.75 per share. This was confirmed by documents filed with the US Securities and Exchange Commission that were made public last October 31, 2013.
Of the total of USD42.1 million paid out to executives, about USD11.9 million went to 26 year Dell veteran Jeff Clarke. Clarke runs Dell PC business and is the president of global operations. The company's ten outgoing directors had received USD17 million as a group, with a USD10 million going to Don Carly, former American Airlines CEO who became part of the Dell board in 1992. He also was Dell CFO in 2007 and 2008.
For his part, Michael Dell had received USD461,752 for the 33,582 shares in his retirement plan that were not included into the newly privatized company. He owns 75% of the new company, which translates to a net worth of USD15.4 billion, according to Bloomberg Billionaire's Index.
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