DALLAS (AP) - The chief executive of Texas Instruments received compensation valued at $9.6 million in 2008.
That's down 6.6 percent from the previous year as the Dallas-based semiconductor maker faced fierce competition for chips that power cell phones.
And a TI filing with the Securities and Exchange Commission says much of Richard K. Templeton's compensation came in stock options that currently have little value.
TI says Templeton's salary was 3 percent higher than in 2007 at $960,780, reflecting an expected increase for CEOs at other companies. But his performance-related bonus dropped from $2.4 million to $1.6 million.
Bonuses for Templeton and other top executives fell about 35 percent because Texas Instruments' performance was "below the median" of its competitors.