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]

If you liked the article, share on:

Topics: ford, ceo, alan mulally

Comments

Recommended

Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 2017
The 2018 Jaguar XEL with its stretched-out wheelbase and longer doors is the newest addition to the growing list of premium sedans in China---joining the ranks of Mercedes-Benz C-Class L,...
by - November 21, 2017
Honda this week announced that its all-new 2018 Clarity Plug-in Hybrid will arrive at US dealerships with a starting price of $33,400 beginning on the first of December. Because the...
by - November 21, 2017
Lamborghini had been expected to refresh its entry-level model – the Lamborghini Huracan – in late 2018 or early 2019. But here is some good news for fans of the...
by - November 20, 2017
The Chevrolet Corvette will be turning 65 years old in 2018, and as part of the celebrations, the brand is introducing a special edition C7 – the Chevrolet Corvette Carbon...
by - November 19, 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