Ca-Ching! Ford CEO Scores $12M in Bonuses

The company has revealed his 2012 salary yet

   

Ca-Ching! Ford CEO Scores $12M in Bonuses

alan mulally Ca Ching! Ford CEO Scores $12M in BonusesDocuments filed with regulators on Tuesday by Ford (NYSE:F) revealed that its CEO received enormous bonuses for the automaker’s performance last year.

Alan Mulally received 909,179 shares of Ford stock worth about $11.7 million at its current share price. The shares will vest in March 2015, but roughly 45% of them will cover taxes, Reuters noted.

Ford Motor Company1 200x200 Ca Ching! Ford CEO Scores $12M in Bonuses
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Additionally, the company granted Mulally options on 745,526 shares for 2013. In order for him to realize a gain on those options, the stock price must remain above $12.75 a share.

It’s been a good week for Mulally. Another 543,734 shares that he was awarded in 2010 became fully vested this week. Those shares are currently valued at $7 million.

The company has not yet disclosed Mulally’s compensation package for 2012. Last year, he received $5.5 million in cash and a $2 million annual salary.

For 2012, Ford posted earnings of $5.7 billion, its fourth consecutive annual profit. In January, the company announced that it planned to hire 2,200 workers this year.

Shares of Ford dipped fractionally in Thursday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/ca-ching-ford-ceo-scores-12m-in-bonuses/.

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