New York | India-born chief of Microsoft Satya Nadella saw his pay packet shrinking to USD 17.7 million in the fiscal ended June, including a bonus of USD 4.4 million.
Nadella, who is betting on technologies like cloud computing and artificial intelligence to steer the software major’s growth, had a compensation of USD 18.3 million in the year ended June 2015.
This year’s compensation includes a base salary of USD 1.2 million, along with bonus (USD 4.46 million), stock award (USD 12.01 million) and other compensation (USD 14,104), according to a preliminary proxy statement filed on October 3.
The stock award value is calculated on the basis of market price as of the date of grant of common stock awarded and other criteria.
Assuming that the highest level of performance conditions are met the value of Nadella’s performance stock award would be little over USD 13.83 million, as per the filing.
“Nadella received when he was promoted to CEO, with a grant date fair value of USD 59,184,000; he will not be eligible to receive any part of this long term performance stock award compensation until 2019, if he continues to serve as CEO,” it added.
Microsoft Executive Vice President and CFO Amy E Hood’s compensation stood at USD 10.37 million, while that of Chief Operating Officer B Kevin Turner was at USD 12.95 million for 2016.
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