Ford CEO got $13.8 million in stock for 2013 performance

Article by Anita Panait, on March 11, 2014

Ford Motor Co. chief executive Alan Mulally has received $13.8 million in stock for the carmaker’s performance in 2013. Ford also gave its Mulally 613,747 stock options as part of an incentive plan for 2013, according to a filing with the United States Securities and Exchange Commission. Mulally cannot sell the 882,352 shares of stock he received until March 4, 2016.

The options, having a strike price of $15.37, vest in thirds annually over the next three years. Ford posted $7.16 billion in earning in 2013 while its shares surged 19 percent. Mulally’s other compensations for 2013, including salary and benefits, will be disclosed in March.

He was considered as a candidate for the top post at Microsoft Corp. last year to be its CEO, but said he will remain at Ford at least through December. Mullaly has led a Ford turnaround that allowed the carmaker avoid the bailouts and bankruptcies that sank predecessors of GM and Chrysler Group.

“We are committed to align executive compensation with the company’s business performance and to tying a significant portion of executive compensation to long-term shareholder value,” Ford spokesman Todd Nissen said.

In addition to the new stock awards, Mulally is now unrestricted to sell 376,016 Ford shares he received in 2012 for the carmaker’s performance in 2011. Mulally is credited with cultivating a collaborative culture at Ford as well as cutting costs by closing sites, slashing jobs and selling off Ford’s European luxury lines like Jaguar. He was able to regain Ford’s profitability by broadening its lineup with fuel-efficient models loaded with technology. [source: Bloomberg]

Topics: ford, ceo, alan mulally

If you liked the article, share on:

Comments

Recommended

You probably heard about Ford’s CEO Mark Fields’ departure from the company. Fields has spent almost three years with the company, and now, he is going to be replaced by...
by - May 28, 2017
A racing team is claiming that it has managed to break the lap record in its category in the ever-demanding Nurburgring circuit in 2016 while driving a road-going Volvo S60...
by - May 27, 2017
Aside from the officially confirmed BMW 8 Series, the next generation BMW M5 (F90) is getting a lot of attention from the fans, enthusiasts and even potential customers around the...
by - May 27, 2017
Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries