Three Bentley execs earned over $1m in 2005

Three Bentley Pharmaceuticals executives – including one who was hired at the end of August — earned more than a million dollars last year, according to filings last week with the Securities and Exchange Commission.

The Exeter drug manufacturer is also asking that shareholders increase stock options for its executives by an additional 750,000 shares at its May 23 annual meeting in order “attract highly qualified employees” and provide them “an incentive for them to increase” the company’s long range value.

James R Murphy, the company’s CEO and board chairman, received a compensation package of nearly $1.9 million, including a base salary of $625,000, a bonus of $495,000 and stock options worth more than $700,000. He owns 4.1 percent of the company, making him the company’s largest individual shareholder.

James Sedor, who was hired as president on Aug. 27, 2005, received a compensation package of $1.3 million, which includes about a third of his $450,000 base salary, in addition to a $100,000 bonus and options worth more than $1 million.

Adolfo Herrera, who is the managing director of the company’s subsidiaries in Europe, where it does much of its business, earned a compensation package slightly more than $1 million, followed by CFO Michael D. Price, who was compensated slightly more than $700,000. —BOB SANDERS