footnoted.org is a great site that seeks out and exposes the little things that companies bury in their financial filings. Each year they run a contest to pick the “worst footnote of the year,” and Ross Perot Jr. made the final five.
It seems that when Dell officially put Perot Jr. on its board, it slipped in a few other little goodies for him. The biggest offender among those items, according to footnoted, was a severance payment of $3.9 million. This had been “grossed up” by $1.1 million (so that he ended up with the same net amount after taxes). They questioned this move since he’d just gotten $952.4 million from the sale of Perot Systems to Dell.
Our local boy is up against Martha Stewart, Chesapeake Energy, Info Group, and Freddie Mac. Voting is open through Dec. 30.