Top iCAD exec compensation: $1.7m

Almost a third of the $6.2 million Nashua-based iCAD Inc. lost last year went to executives and board members, and its top three executives will be getting a raise in their base salary, along with more equity awards this year, according to a filing filed last week with the U.S. Securities and Exchange.The three top executives’ compensation packages totaled more than $1.7 million (a 50 percent increase from 2009, when iCAD lost about $2 million) and eight board members were compensated $300,000.CEO Kenneth Ferry led the way with a total compensation package of $866,514, a $361,000 increase over 2009. Ferry’s 2010 base salary ($368,474) went up $13,000, so most of that increase was due to $214,500 in stock awards and a $203,500 bonus. The bonus was for meeting the target of a $2.4 million pretax loss before transaction-related expenses, according to the filing.Next year, Ferry will get a similar upgrade in base salary, to $385,000, as well as some 300,000 stock options.CFO Darlene Deptula-Hicks, was compensated with $448,476, with a base salary of $243,976, which will go up to $255,000, with 100,000 stock options. The compensation package of Jeffrey Barnes, executive vice president of global commercial operations, was $401,252, with a base salary of $223,902. His base salary will go up to $235,000, and he will also get 100,000 in options.Board Chairman Dr. Lawrence Howard was the best-compensated compensation package: $56,884, $47,000 of that in cash.iCAD provides equipment and services to detect breast cancer.ICAD reported revenues of $6.3 million in the last quarter, a decline of $1.7 million from 2009, bringing total revenues to $24.6 million, a $3.5 million decline from the previous year. Some $2.9 million (6 cents a share) of the annual net loss $6.2 million (14 cents a share) was in the last quarter. The company still has $16.3 million in cash and stockholder’s equity was valued at $73.2 million. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW