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Six BrightPoint execs to share $31M golden parachute

Dan Human
August 22, 2012
Keywords
Brightpoint, Compensation, Executive pay, Executives, Manufacturing & Technology, Tech Companies, Tech Executives
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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.

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  • Brightpoint Screws its stockholder again
    ROBERT NALLAugust 28, 2012 8:10 PM
    Bob Laikin and his top six management cohorts have paid themselves millions of dollars out of this compnay's cash for many years. The bonuses and the severance package they are paying themselves is nothing compared to the rest of the money they will make from selling their own stock to Ingram Micro. Laikin managed this company for his own personal benefit and never for the stockholders! Let's see the IBJ report the facts of how much Laikin and his buddies are going to rake in from the sale of their shares to Ingram Micro.
    Reply to CommentFlag Comment
  • Hmmm!
    QurlyAugust 22, 2012 6:02 PM
    So, 1300 people have jobs and investors made $. What's not to like? Good for them. It shouldn't be THEIR money?
    Reply to CommentFlag Comment
    • Brightpoint
      reddogAugust 22, 2012 2:18 PM
      Roger...remember that these guys gave themselves a 20% pay raise this year and have been taking the cash out for years. This $14mil is just an insult. They been paid this amount many times over and they are not majority holders. So....I on't think much of them and I know some things about the inside that you may not.
      Reply to CommentFlag Comment
    • Really?!?!?
      TracyAugust 22, 2012 2:14 PM
      "The part-time job will net Laikin $900,000 a year and a one-time $2.2 million stock grant." Yup. THAT sounds reasonable.
      Reply to CommentFlag Comment
    • Doesn't seem like very much
      RogerAugust 22, 2012 1:36 PM
      I might be jaded, but a $14mil payout seems like a pretty small nut for a multi-billion dollar Fortune 5 company that you started from scratch. Yikes.
      Reply to CommentFlag Comment
      • Brightpoint
        reddogAugust 22, 2012 1:31 PM
        That soucks. Management rode that company into the ground and now being rewarded with obscene packages....Gordon Gecko was right....screw the stockholders.
        Reply to CommentFlag Comment
      • Bobby Laikin info
        PaulaAugust 22, 2012 1:25 PM
        Thought you might find this interesting. Big dollars to be sure.
        Reply to CommentFlag Comment

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