A.D.I.
ORG
A.D.I.
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 in late 2004 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 has lost 6.55 percent, annualized, versus a decline of 3.38 percent for the index. In calculating Mr. Jerald G. Fishman, the chief executive's total pay, Analog Devices' compensation committee said it took into account his strong leadership in guiding A.D.I. through the downturn in the semiconductor industry, his position as a leading executive in the semiconductor industry and A.D.I.'s performance over the past fiscal year relative to its peer companies. Consider the owners of Analog Devices, a semiconductor maker in Norwood, Mass. The revelation that struck Analog Devices' holders is known in executive payland 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. Give Analog Devices a gold star for disclosing the deferred compensation earned by its executives and directors before regulators required it.