Microsoft CEO: Nadella got $84-mn Package? Is it True?

Microsoft CEO: Nadella got $84-mn Package? Is it True?

Satya Nadella, Microsoft chief executive, received a pay package that is worth $84M, making him as one of the best paid individuals in the industry of technology.

According to Toronto Telegraph, the package is made up of share awards that will be released over the past years. In the regulatory filing, Microsoft stated that the appointment of Nadella in February meant that it's the first time that the chief executive didn't have a major stake in the giant company.

The proxy statement of the company, which was filed recently with Securities and Exchange Commission, has showed the payouts of Nadella included a salary worth of $918,917, stock awards worth $80M, and $3.6 cash bonus.

Microsoft also said that the actual compensation of Nadella for the fiscal year 2014 of the company is worth $11.6M after excluding long-term stock awards as well as a $13.5M worth of retention award he obtained before he became a CEO.

Based on CBS Seattle, Nadella was promoted as the company's CEO in February and only the third CEO in the history of Microsoft. Addressing the computer conference for women, he said that the female executives must not push for more money. He said that it is not really about asking for a raise, but it is actually having faith and knowing that the system will provide them the right raises as they progress in their profession. Due to this, Nadella apologized for his mistake and give an advice instead.

Steve Ballmer, his predecessor, only received around $16M in total during his fourteen years in the position.

According to the Computer World, Nadella was also provided with a sock grant in the previous year worth approximately $13.5M as part of the retention plan, which Microsoft used for keeping the executives in place as its board looked for a new CEO when Baller officially announced his retirement. The award is said to be paid out in a total of four equal annual allotments, which starts in August next year.

The expected annual pay of Nadella is $18M and $13.2M will be in stock.

 

Tags : Microsoft CEO Microsoft CEO rumors Microsoft CEO news Microsoft CEO recent Microsoft CEO deal Microsoft CEO big deal Microsoft CEO 84MN Microsoft CEO nadella Microsoft CEO new Microsoft CEO latest Microsoft CEO update Microsoft CEO netflix Microsoft