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

The new and improved Opel Grandland X is out, and this large SUV is something the European market did not know they would need. Now measuring at 14.7 feet (4.48...
by - April 25, 2017
It seems like a never-ending battle between the 2017 Honda Civic Type R and the VW Golf GTI Clubsport S when it comes to owning the Nürburging record. This story...
by - April 25, 2017
Another day, another record. Is the new Dodge Challenger SRT Demon the fastest car to date? According to some sources, the Dodge Challenger SRT Demon had just beaten the Tesla...
by - April 24, 2017
Following in the footsteps of the McLaren 570S, 540C and 570GT is the newest addition to the McLaren Sports Series -- the roofless 570S Spider. McLaren 570S was rolled out...
by - April 24, 2017
The British automaker Lotus is noted for releasing low production, limited editions of its sports car lineage. Now the Hethel-based automobile manufacturer is back at it again with its latest...
by - April 24, 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