A massive stock award announced Monday propels Cisco CEO John Chambers into the upper tier of high-paid tech CEOs.
In a regulatory document filed late Monday, Cisco revealed that Chambers received $15.2 million worth of stock awards for the company's fiscal 2013 -- nearly double the $7.3 million he scored in 2012.
Cisco ( didn't specify the reasons behind the huge increase. The company was more clear about the reason for an increase in another piece of his compensation package: a salary boost to $1.1 million from $375,000. )
At $375,000, Chambers' salary was "well below the 25th percentile" of his peers, Cisco said, and it hadn't changed since fiscal 2008.
On top of that, his cash bonus increased about $750,000 to $4.7 million.
Chambers was never considered a poorly paid CEO, but his $21 million total compensation puts him among the top five most highly paid tech CEOs -- somewhere between Salesforce's ( Marc Benioff and )AT&T's ( Randall Stephenson. His total compensation was $11.7 million the prior year. )
While Cisco has generally posted decent financial results in recent quarters, the company was forced to announce 4,000 job cuts during its report in August. Shares are down 3.7% over the past three months but up 19.3% year to date.