After Ford’s Chief Executive Officer Alan Mullaly settled the things regarding his reported departure at Microsoft by saying he’s still at Ford, things settled down and the automaker has decided to reward him for last year’s performance.
In a US regulatory filling filed by Ford, we found out that Ford Motor Co’s praise for its CEO is worth no less than $13.8 million for 2013, as the No. 2 US automaker rewarded him with stock as a bonus for its performance. Mulally is universally seen as the architect of Ford’s return to profitability after the 2009 crisis that almost saw the company join Detroit competitors General Motors and Chrysler into bankruptcy.
Still, the market value of the restricted stock Mullaly has received will depend on the day he decides to sell – the $13.83 million worth of shares were calculated based on the closing price of $15.67 for the day the regulatory filling was submitted.
According to the Ford filing with the US Securities and Exchange Commission, the 2013 restricted stock award is tallied at 882,352 shares – convertible to common stock on March 4, 2016. So far, Mullaly owns – at yesterday’s closing New York Stock Exchange price of $15.67 – a total of $96.9 million in Ford common stock.