Akamai's Sagan earned $4.47m in 2007

The chief executive of Web services provider Akamai Technologies Inc. received total compensation valued at $4.47 million, according to a Securities and Exchange Commission filing today.

Today's filing shows Akamai gave CEO Paul Sagan a base salary of $403,651 last year, up slightly from $402,854 in 2006.

Sagan also received a performance-based bonus of $497,362 and stock options and restricted stock valued by the company at $3.57 million on the days they were granted.

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 they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.

Akamai's profits almost doubled in 2007.

The company's net income surged to $100.9 million, or 56 cents per share, from $57.4 million, or 34 cents per share, in 2006. However, its share price fell about 35 percent in 2007.

Akamai, which delivers iTunes content for Apple, signed a deal with Starbucks last year to deliver iTunes to customers using the chain's local wireless networks. (AP)