Chairman, president and CEO Martin Madaus got a 33.5 percent boost, taking his total compensation for 2008 to $5.2 million, according to The Associated Press.
But the bulk of the raise came from stock and option awards valued at just under $3.7 million when they were granted; those shares are now under water, worth less than their $69.41 stock price when they were granted in February.
As of 3:20 p.m. EST March 31, Millipore shares were trading at $58.
Other Millipore executives who pulled down raises include CFO Charles Wagner Jr. (a 29 percent boost) and global operations VP Peter Kershaw (20 percent).
In 2008, the company’s profit rose 6.8 percent to $145.8 million on a 4.6 percent sales boost to $1.6 billion.