GM CEO Barra's compensation $28 million for 2015, up 72 percent
DETROIT (Reuters) - General Motors Co (F.N: Quote) Chief Executive Mary Barra's compensation for 2015 rose 72 percent from the prior year to $28 million as she guided the company to record profits, the company said on Friday.
Her compensation, including pension and perks, was $28.6 million, the automaker said.
Much of Barra's compensation was tied to stock awards she cannot yet cash in, and some of those awards are tied to share price performance. The total compensation she realized in 2015 from the awards was $7.3 million, GM said.
The compensation included a one-time grant last June of stock that could be valued at $11.2 million, which is tied to the stock being at least $31.32 per share. That was the value of a GM common share last June when the awards were granted. That award vests over more than four years.
GM shares were trading midday Friday at $32.42 per share.
Barra, 54, became CEO in January 2014 and steered the company through a massive safety recall and costly litigation related to ignition switches in older-model small cars.
In 2015, GM reported record revenue of $152.4 billion and record EBIT-adjusted earnings of $10.8 billion.
In February, Fiat Chrysler Automobiles (FCHA.MI: Quote) (FCAU.N: Quote) told the Securities and Exchange Commission that Chief Executive Sergio Marchionne's total compensation was an estimated $73.6 million, including the value of the stock awards when they vested. Marchionne has not yet cashed them out and their value fluctuates over time.
Marchionne received a salary of $4 million and a bonus of $6.85 million in 2015. Continued...