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

During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 2017
How fast can a 2017 Chevrolet Camaro ZL1 actually go? Considering the amount of power lurking underneath its line-laden bonnet, the 2017 Camaro ZL1 is capable of achieving a top...
by - February 23, 2017
As it turned out, we’ll be seeing Toyota’s new super supermini at the 2017 Geneva Motor Show in March. It’s time we all get to meet the new Toyota Yaris...
by - February 23, 2017
Opel revealed it has sweetened the pot for 2017 Insignia Grand Sport customers with the Opel Exclusive program. Through this program, the brand hopes to introduce a wide selection of...
by - February 22, 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