New Delhi: Microsoft Corp’s new Chief Executive Satya Nadella has become one the technology industry’s biggest earners, with a total compensation package worth $84.3 million (Rs. 514 crore, $1 = Rs. 61) this year, according to a document filed with securities regulators on Monday.
A regulatory document filed on Monday showed Nadella got a salary for the fiscal year that ended June 30 of $918,917 and a $3.6 million bonus. He also was given stock awards worth nearly $79.8 million but most of the payments will be made over several years.
Microsoft said Mr. Nadella’s actual compensation for the company’s fiscal year 2014 is worth $11.6 million after excluding the long-term stock awards and a $13.5 million one-time retention award he received before his promotion to CEO.
Nadella was not the only executive to benefit from the uncertainty at Microsoft between August last year and February, as the company looked for its next CEO. Chief Operating Officer Kevin Turner was awarded shares valued at $10 million and head lawyer Brad Smith was awarded $9.6 million worth.
In the future, Mr Nadella’s compensation is set to be more modest, with “total target compensation” for fiscal 2015 set at $18 million, according to the company’s proxy filing. That includes a base salary of $1.2 million, a maximum cash bonus of three times his salary, plus shares worth $13.2 million.
Bureau Report
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