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Lou's Payday

In Business This Week: CLOSING BELL


This is when the real money kicks in for Lou Gerstner. For two years, IBM's CEO has had to make do on his guaranteed $2 million salary and $1.5 million annual bonus. Since February, though, IBM's stock has soared 24%, lifted by record earnings and a flurry of analyst upgrades. Action like that does wonders for a guy's stock options: Gerstner's options on 725,000 shares now are worth some $30 million. The 57,956 shares he owns outright are valued at $5.4 million. EDITED BY KEITH H. HAMMONDS

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