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New Microsoft CEO pay tops US$80m with big stock awards
[Seattle] Microsoft Corp's new Chief Executive Satya Nadella has become one the technology industry's biggest earners, with a total compensation package worth US$84.3 million this year, according to a document filed with securities regulators on Monday.
The outsized number is mostly made up of the estimated value of certain one-time stock awards given to Nadella, who became the company's third CEO in February. Most of it Nadella cannot actually receive until 2019.
The massive stock awards, valued at US$79.8 million overall, were designed to keep Nadella at Microsoft while the company was hunting for a new CEO, and to give him long-term incentives as CEO.
Large stock awards have not been necessary for Microsoft's previous two CEOs, Bill Gates and Steve Ballmer, as both had multi-billion dollar holdings in the company.
Looking forward, Mr Nadella's compensation is set to be more modest, with "total target compensation" for fiscal 2015 set at US$18 million, according to the company's proxy filing.