2:35 PM -- While shareholders saw the value of Sonus Networks Inc. (Nasdaq: SONS) stock drop by nearly 18 percent in 2007 -- it started the year at $7.08 and closed the year at $5.83 -- the VOIP vendor's CEO, Hassan Ahmed, fared rather better.
A filing made this week with the Securities and Exchange Commission (SEC) showed that Ahmed's remuneration package of salary and bonuses (cash and stock) grew by 340 percent in 2007 compared with 2006.
In 2007, Ahmed's package totaled $3,200,970, compared with $727,323 in 2006.
The big leap came mostly as a result of an enormous leap in the value of stock options awarded to Ahmed: In 2007 those options were worth just over $2.2 million, compared with just $7,930 in 2006.
Sonus's share price currently stands at $4.00.
Why were we poking around Sonus's SEC filings, you might ask? Well, because we were digging up a nugget that shows the VOIP vendor is on the cusp of landing a potentially lucrative deal with pan-European operator Colt Technology Services Group Ltd . (See Sonus Nears NGN Role at Colt.)
— Ray Le Maistre, International News Editor, Light Reading