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Common Motors CEO Mary Barra got a hefty bump in total payment past yr. The board awarded her $29.1 million in salary, bonuses and added benefits — a 23% jump as opposed to 2020.
Barra acquired a foundation salary of $2.1 million, which was a elevate of 5.3%. She also obtained $14.6 million inventory awards, up 11% from previous year $3.9 million in alternative awards, a 5% soar and $7.6 million in nonequity incentive system compensation, which was two times what she acquired past calendar year.
The details was introduced as aspect of the company’s annual proxy statement. Subsequent calendar year, the aspects identifying Barra’s payment package deal transform as metrics associated to electric powered motor vehicles will account for 15% of her compensation.
Other components integrated the company’s altered pretax earnings margin at 30%, relative complete shareholder return for 30%, and inventory solutions the remaining 25 p.c.
Improved than the levels of competition
Her complete offer was $6.3 million much more than CEO Jim Farley’s at rival Ford, who obtained $22.8 million in his first entire calendar year in cost of the automaker.
As is the case with most high-ranking executives, Farley’s foundation wage was a tiny part of his over-all payment: $1.7 million.
In addition to that typical paycheck, Farley’s inventory awards tripled to about $16 million. In addition to other rewards, he acquired additional than $830,000 for particular plane use. Farley was alone in observing payment gains. Farley also gained a efficiency reward of $3.7 million.
Other GM executives
The assertion also outlined the compensation for GM’s other best executives, including President Mark Reuss, who obtained $12.5 million — a 26% bounce. CFO Paul Jacobson brought house $9.6 million although North America President and Cadillac chief Steve Carlisle got a 43% raise to $9 million.
General, the company’s altered earnings just before taxes for all of 2021 came in at $14.3 billion, a 47% maximize though GM’s profits rose 3.7% to $127 billion.
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