(Reuters) - The chief executive officer of Exxon Mobil Corp XOM.N, the world’s largest publicly traded oil company, will take home a higher salary next year and his bonus increases 5 percent.
The Irving, Texas, company’s board of directors awarded Rex Tillerson, the company’s chairman and CEO, a bonus of $4.59 million, up from $4.37 million last year, a filing Tuesday with the U.S. Securities and Exchange Commission showed.
Tillerson’s salary will rise 5 percent to $2.71 million effective January 1.
The CEO will receive about half the bonus in cash by the end of this year, while the payout of the balance is linked to the company’s earnings, the filing said.
Tillerson was also granted 225,000 shares of restricted stock, the same amount as last year.
So far this year, Exxon’s shares have risen 3 percent. The company’s shares were down 24 cents, or 0.3 percent, to $87.37 in afternoon trading on the New York Stock Exchange.
Reporting By Anna Driver; Editing by Gerald E. McCormick