Texas Instruments CEO Templeton’s pay edges up 2 percent to $9.8 million in 2009

Texas Instruments CEO pay up 2 percent to $9.8M

SEATTLE — Chip maker Texas Instruments Inc.’s CEO’s compensation edged up in 2009, according to calculations by the Associated Press, a recession year that proved difficult for the chipmaker.

Richard K. Templeton, 51, received a pay package the company valued at $9.8 million, up from $9.6 million in 2008, according to AP calculations based on a March 4 filing with the Securities and Exchange Commission.

Templeton’s base salary increased less than one percent to $963,120 for the year, and he received a performance bonus of $1.8 million, a 14 percent jump. He received stock and options worth $6.9 million on the day they were granted. That’s less than one percent more than in 2008.

Among Templeton’s $145,633 in perks included $55,562 in contributions to a retirement plan, $49,269 worth of personal travel in the company jet and $20,767 for vacation time he did not take.

The AP’s calculation of executive pay includes salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards as of the day they were granted. The calculations exclude changes in the present value of pension benefits.

TI, which makes chips used in everything from flat-screen televisions and laptop computers to refrigerators and medical imaging systems, saw demand falter during the recession. In 2009, the Dallas-based company’s earnings declined 23 percent to $1.47 billion. Its revenue fell 17 percent to $10.43 billion.

But TI’s results in the fourth quarter indicated rising demand for the products powered by TI chips. In January, TI said its fourth-quarter net income rose more than six-fold during what is typically a slow December holiday season.

The chipmaker’s annual shareholder meeting is set for April 15 at the company’s headquarters.