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2000 CFO Pay: Cashing in Big-time With Options

How two finance pros hauled home seven-figure checks last year.
Michelle GabrielleJune 28, 2001

Nvidia Corp.’s CFO Christine B. Hoberg exercised nearly $7 million in options in the most recent fiscal year (January 2001), according to the company’s proxy. Altogether, she took home $7.2 million for the year.

Hoberg received $200,000 in salary and $102,083 in bonus (that will be partially paid in 2002) and exactly $6,903,903 in exercised options from the very fast-growing Santa Clara, Calif.-based maker of graphic chips and boards.

In fiscal 2000, Hoberg received $200,000 in salary and $15,710 in bonus, for a total compensation of “just” $215,710.

Hoberg has been CFO of Nvidia since December 1998. From June 1992 to December 1998, she held various positions at Quantum Corp., a storage-device maker, where her last position was VP/corporate controller.

Hoberg holds a bachelor of arts in German studies from Stanford University and is a certified public accountant.

In fiscal 2001, Nvidia earned $99.9 million on $735.3 million in revenue, compared to $38.1 million on $374.5 million in revenue in fiscal 2000.

WatchGuard Technologies, Inc.’s VP, CFO, and treasurer Michael E. McConnell also earned more than $2 million in 2000, mostly due to exercised options.

He exercised $1,607,278 in options from the Seattle-based computer software and hardware company. He also received about $142,000 in salary and close to $34,000 in bonus. Total Compensation: $1,783,145.

McConnell joined WatchGuard in May 1999 as VP of finance and was appointed CFO in October 2000. Prior to joining the company, he served as VP and CFO at Cellular Technical Services Co., a computer hardware and software manufacturer serving the wireless telecommunications industry.

McConnell also served as VP and CFO at Delphi Information Systems during its IPO.

McConnell holds a B.S. degree in business administration from California Polytechnic State University at San Luis Obispo. He is also a CPA.

In 2000, WatchGuard nearly tripled its revenue to $60.7 million, compared to $20.6 million in 1999. The company lost $15.7 million in 2000, slightly less than the $16 million loss in 1999.

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