By Lisa Beilfuss
Texas Instruments Inc. said Chief Executive Richard Templeton
received total compensation valued at $15 million for 2014, up
nearly 10% from the previous year.
The increase came mainly in the form of option awards, which
grew 38% to $4.9 million. The board raised his salary 3.3% to $1.1
million.
TI's board said its decision to raise Mr. Templeton's total
compensation was based on the company's above-median performance
during 2014. Its profit for the year jumped 30% to $2.82 billion,
and it returned $4.2 billion to shareholders via share buybacks and
dividends, a 2.7% increase over 2013.
TI's stock, meanwhile, has surged 28% over the past 12 months,
aided in part by consolidation in the semiconductor space.
Mr. Templeton is a 34-year veteran of the semiconductor industry
and has led Texas Instruments as CEO since 2004 and as chairman
since 2008.
TI, which makes chips used in everything from cell phones to
industrial equipment, has been moving away from digital chips to
focus on analog chips, which often command lower prices but can be
produced with older equipment at a high profit.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires