May 2nd

Colin Goddard receives $86,697 in home security

May 2nd 2007

Millions for some local execs
LI company filings reveal more than ever in answering to SEC

BY DANIEL WAGNER

In response to new, stricter disclosure SEC requirements, numerous Long Island companies are releasing detailed information about how their top executives are compensated. Included in recent filings:

OSI Pharmaceuticals Inc. (Mel- ville) - Two executives received total compensation topping $2 million, and neither was chief executive and director Colin Goddard.

The biggest payout went to David R. Guyer, former executive vice president and chief executive, who resigned in May 2006 but remains an OSI consultant. He received $1.71 million in stock options - by far the highest award - and his options will continue to vest as though he remained an executive.

Guyer's consulting agreement includes "certain non-competition, non-solicitation and nondisclosure agreements," and entitles him to a $1.525 million golden parachute over four years. His total compensation last year was $2.446 million.

Michael G. Atieh, the executive vice president, chief financial officer and treasurer of the company, earned $2.066 million, including $616,309 in salary and bonus and a $300,000 reimbursement for relocation expenses and associated taxes.

Goddard, the company's top executive, received $1.9 million, including a $611,538 salary and $1.09 million in stock options. Much of that will be out of reach unless the company's stock performance improves dramatically. He also received $86,697 in security "due to multiple home protests conducted by animal rights activists."

Lifetime Brands Inc. (Westbury) - The maker of major-label kitchen and housewares granted chairman, chief executive and president Jeffrey Siegel total compensation almost three times that of the second-best- compensated executive. Siegel's package totaled $2.94 million, including $1.83 million in salary and bonus and $511,589 in assorted perquisites like insurance, legal fees and a company car.

Gyrodyne Co. of America (St. James) - This former helicopter manufacturer is now a real estate investment trust. For the eight months ending Dec. 31, president and chief executive Stephen V. Maroney received a total of $222,404, comprising $148,077 in salary and $74,327 in increased pension value. His compensation for the first four months, considered part of financial year 2006, was slightly higher.

Steve Madden Ltd. (Long Island City) - Chief executive Jamieson A. Karson received a package totaling $2.1 million, the only named executive to break the $2 million mark. Of the total, $950,000 was a combination of salary and bonus; $1.1 million came in the form of direct stock awards. The package also included $23,314 for "membership dues."