RALEIGH, N.C. — Red Hat Chairman and Chief Executive Officer Matthew Szulik is getting a 50 percent raise plus 87,500 shares of stock and options on another 250,000 shares in the Linux software developer and services provider.

According to a Securities and Exchange Commission filing on Friday, Red Hat’s compensation committee on the board of directors voted Szulik a $200,000-a-year raise to $600,000 per year.

The board approved the raise on Oct. 16, the filing said.

Szulik has been CEO of Red Hat (Nasdaq: RHAT) since November of 1999. He joined the company in 1998.

In addition to cash compensation, Szulik was granted 87,500 shares of stock. Of those, 25 percent will vest on Oct. 16 of 2007. Each three months thereafter, another 6.25 percent will vest.

Szulik also was granted the option to purchase 250,000 shares of common stock at a price of $19.84, which was the closing price on Oct. 16.

Red Hat shares reached a 52-week high of $32.48 on May 8 but have fallen sharply since.

Red Hat acquired JBoss, a provider of open source so-called middleware, earlier this year. Dogged by persistent rumors that database giant Oracle might launch its own version of Linux, Red Hat shareholders have been dumping shares to the point that the stock shrank to a new 52-week low on Friday of $18.34.

As of June 6, Szulik held 404,349 shares of Red Hat stock, according to SEC filings.

Red Hat: www.redhat.com