Microsoft’s Satya Nadella Will Rake In An $84.3 Million Dollar Paycheck According To SEC Filing
Microsoft CEO Satya Nadella has a good reason to smile. According to a document filed with the U.S. Securities and Exchange Commission, Nadella will receive a compensation package worth $84.3 million this year.
The amount is comprised mostly of the estimated value of one-time stock awards that was given to Nadella as an incentive to keep him at Microsoft during the company’s search for a new CEO. Back in February, Nadella was confirmed as Microsoft’s new CEO, making him the third person to be in that position.
However, Nadella will not receive that same one-time stock until 2019. According to the statement filed with the SEC, he will receive stock worth around $59.2 million as part of a long-term incentive scheme that will stretch out over seven years. Meanwhile, during Microsoft’s search for a new CEO, he was awarded $13.5 million to stay at the company while the search was conducted.
Without the one-time stock awards, Nadella’s pay package will amount to $11.6 million this year which includes $918,000 in salary, $3.6 million cash bonus, and an annual stock award valued at just over $7 million. The same filing also revealed that future compensations for Nadella will be more modest. For fiscal 2015, the “total target compensation” is set at $19 million which includes a base salary of $1.2 million, a maximum cash bonus of three times his salary, and shares worth $13.2 million.
The disclosure of Nadella’s salary comes shortly after he came under fire for suggesting that women do not need to ask for raises and should trust in “karma.” But hours after he said that, he quickly back-pedaled on his statement and apologized for what he said.
The amount is comprised mostly of the estimated value of one-time stock awards that was given to Nadella as an incentive to keep him at Microsoft during the company’s search for a new CEO. Back in February, Nadella was confirmed as Microsoft’s new CEO, making him the third person to be in that position.
However, Nadella will not receive that same one-time stock until 2019. According to the statement filed with the SEC, he will receive stock worth around $59.2 million as part of a long-term incentive scheme that will stretch out over seven years. Meanwhile, during Microsoft’s search for a new CEO, he was awarded $13.5 million to stay at the company while the search was conducted.
Without the one-time stock awards, Nadella’s pay package will amount to $11.6 million this year which includes $918,000 in salary, $3.6 million cash bonus, and an annual stock award valued at just over $7 million. The same filing also revealed that future compensations for Nadella will be more modest. For fiscal 2015, the “total target compensation” is set at $19 million which includes a base salary of $1.2 million, a maximum cash bonus of three times his salary, and shares worth $13.2 million.
The disclosure of Nadella’s salary comes shortly after he came under fire for suggesting that women do not need to ask for raises and should trust in “karma.” But hours after he said that, he quickly back-pedaled on his statement and apologized for what he said.
