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

by Christopher Freeburn | March 7, 2013 11:42 am

alan mulally Ca Ching! Ford CEO Scores $12M in Bonuses[1]Documents filed with regulators on Tuesday by Ford (NYSE:F[2]) revealed that its CEO received enormous bonuses for the automaker’s performance last year[3].

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.

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.

ForĀ 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[4].

Shares of Ford dipped fractionally in Thursday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/08/alan-mulally.jpg
  2. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  3. enormous bonuses for the automaker’s performance last year: http://www.chicagotribune.com/classified/automotive/sns-rt-us-ford-mulallybre92502e-20130305,0,1900366.story
  4. planned to hire 2,200 workers this year: http://investorplace.com/2013/01/ford-to-hire-2200-salaried-workers-this-year/

Source URL: http://investorplace.com/2013/03/ca-ching-ford-ceo-scores-12m-in-bonuses/
Short URL: http://invstplc.com/1fDG6Cj