The top two executives at Fairfield-based Copart Inc. have captured pay packages that each top $26 million, according to a regulatory filing. The online vehicle auction company's chief executive officer, Willis Johnson, was awarded $26.8 million in total direct compensation. Company president A. Jayson Adair was awarded $28.4 million. For both executives, the great majority of the pay came in the form of stock options. Johnson landed $26.1 million in stock options and Adair received $27.8 million in stock options. Johnson's total pay was 460 percent higher than the prior year and Adair's pay rose 522 percent. During the 12 months that ended in June, Copart's revenues totaled $743.1 million and profits totaled $141.1 million. Compared with the same 12-month period the year before, revenues fell 5.3 percent and profits fell 10.1 percent.

Tech

Tandberg ASA shareholders with more than 24 percent of the stock want San Jose-based Cisco Systems Inc. to raise its $3.1 billion offer for the world's largest maker of video conferencing equipment. Cisco said in an e-mailed statement Thursday it's paying a "fair price" and that it won't comment further during the tender process. Cisco's offer was 11 percent more than Tandberg's closing price on Sept. 30 and a 38.3 percent premium before news reports of the transaction, the company said. The offer is conditional upon getting acceptance from more than

Biotech

Alameda-based BioTime Inc. has formed a new subsidiary, OncoCyte Corp., in order to develop treatments for cancer based on stem cell technology. The new unit has received a $2 million equity investment from a private investor, who has the option to buy an additional $2 million stake by next April.

Lease

A gamble by a group of Silicon Valley developers is still paying off. Imtec Acculine Inc. has leased 27,000 square feet at a 195,000-square-foot Fremont research campus, said Jason Peery, one of the developers in the group. Imtec is moving to its new offices from Sunnyvale, Peery said. Additional tenants want to rent another 87,000 square feet in the three-building complex, Peery said. Previously, Morgan Royce Industries rented 25,000 square feet in the project. The developers, through a partnership called Asilomar Partners Milmont, paid $7.4 million in cash in September for the buildings, located at 49000 Milmont Drive near Kato Road.

Quickly

Two retailers have signed leases at Tassajara Crossing in Danville. Hewitt Chiropractic rented 1,200 square feet and Koo's Martial Arts Academy leased 1,700 square feet.

Compiled from staff and wire reports. Got Bay Area business news? Reach Drew Voros at 925-943-8099 or dvoros@bayareanewsgroup.com.