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Consider the owners of Analog Devices, a semiconductor maker. Those who bothered to read the company's proxy, filed on Feb. 2, saw in glorious black and white that Jerald G. Fishman, the chief executive of the company, had backed up his truck to corporate headquarters late last year and loaded up the $144.7 million that he was owed in deferred compensation. The revelation that struck Analog Devices' holders is known in executive pay land as a holy-cow moment, that electrifying instant when shareholders learn how much of their money is being siphoned off by their company's leaders. Analog Devices, a semiconductor maker in Norwood, Mass. The revelation that struck Analog Devices' shareholders is to learn how much of their money is being siphoned off by their company's leaders. Analog Devices is also in the midst of settling a matter that was initiated by the S.E.C. related to its compensation practices specifically, to the timing of the company's stock option grants to its employees, officers, and directors. Analog Devices' proxy statement, the $144.7 million included gains on stock options he had exercised between 1997 and 2003. The proxy stated that the interest rate paid to Analog Devices' executives in fiscal 2005 was 6.48 percent well above the average long-term rate of 4.64 percent that United States Treasury bonds paid last year. Analog Devices has lost 6.55 percent, annualized, versus a decline of 3.38 percent for the index.