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NEW YORK (AP) -- The chief executive of Micron Technology Inc. received compensation valued by the company at $8.6 million in fiscal 2007, according to a proxy statement filed Monday with the Securities and Exchange Commission. The semiconductor maker awarded Steven R. Appleton $948,169 in base salary. The Boise, Idaho-based company granted Appleton restricted stock awards that had an estimated value of $7.6 million on the days they were awarded. Appleton also received $63,157 in other compensation, which included 401(k) plan contributions and payment for unused time off. Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation, and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits and may differ from totals supplied by companies. Separate from his annual compensation, Appleton realized $1.3 million on vesting stock awards. Last month, Micron reported fiscal fourth-quarter and full-year losses, after a profitable 2006. For the full year, the company posted a loss of $320 million, or 42 cents per share, down from a profit of $408 million, or 57 cents per share, in the previous fiscal year. Micron, which makes dynamic RAM, flash memory and memory modules, said results for the quarter and year were hurt by lower prices for its products. Micron shares fell 24 cents to $10.23 in morning trading. Shares have traded between $9.37 and $15.26 in the past 12 months.
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