Executive pay and Compensation and Tech Executives and Brightpoint and Tech Companies and Executives and Manufacturing & Technology

Six BrightPoint execs to share $31M golden parachute

August 22, 2012

Six top executives at Indianapolis-based BrightPoint Inc. are expected to share a $30.7 million payout as part of the company’s planned merger with Ingram Micro Inc.

CEO and Chairman Robert Laikin stands to receive $14.1 million after his company is acquired by the Santa Ana, Calif.-based technology company, according to Securities & Exchange Commission documents released this week.

The roughly $840 million deal, announced July 2, is expected to close by the end of the year.

Plans call for Laikin to receive $6.5 million as a result of accelerated vesting of restricted shares in the 4,000-employee wireless device distributer and logistics company.

Additionally, Laikin would receive $3.5 million from an early liquidation of an executive pension plan.

The agreement also calls for a $4.1 million single payment to the BrightPoint CEO when the deal closes.

Laikin intends to stay on with the company after the merger as a senior adviser to Ingram CEO Alain Monie. The part-time job will net Laikin $900,000 a year and a one-time $2.2 million stock grant.

In addition to Laikin, five other BrightPoint executives are in line for big payouts.

J. Mark Howell, president of the company's Americas region, will get about $6.7 million. Anurag Gupta, president of the Europe, Middle East and Africa regions, will get $3.9 million. Chief Financial Officer Vincent Donargo awaits a $2.1 million payout and Asia Pacific President Bruce Tomlinson will receive $3.4 million.

Howell, Gupta, Tomlinson and Donargo are expected to remain with the merged company in senior roles.

Former CFO Anthony Boor, the sixth executive receiving a golden parachute, left BrightPoint in May 2011. He will receive $566,024 from the executive pension plan.

Company spokesman Tom Ward declined to comment Wednesday on the executives’ compensation, saying previous filings explained the compensation.

“I think all the information [in the filing] speaks for itself,” he said.

BrightPoint was founded in 1989 in Plainfield and has about 1,300 employees in central Indiana.

Shareholders will vote on the merger during a 9 a.m. meeting Sept. 19 at BrightPoint’s corporate headquarters in Indianapolis.

ADVERTISEMENT

Recent Articles by Dan Human

Comments powered by Disqus