GM CEO Mary Barra receives $28.6 million in compensation for 2015 image

General Motors Chief Executive Mary Barra’s compensation for last year jumped nearly 77 percent, following a record profit year for the automaker.

According to the company’s annual filing with the Securities and Exchange Commission, Mary Barra’s compensation, including pension and perks, was 28.6 million dollars. However, GM’s CEO only received 7.3 million dollars of the total, the majority of which was tied to stock awards she cannot yet cash in, and some of those awards are tied to share price performance. If her pay package for 2014 was at 16.2 million dollars, the compensation included this time a 11.1 million dollars in option awards tied to the stock being at least 31.32 dollars per share. GM shares ended on Friday April 22 at 32.23 dollars per share.

Two years back, GM set a different pay system for its executives, which varies according to their performance and the company’s as well. The automaker reported a record 2015 net income of 9.7 billion dollars, or 5.91 dollars per share, up from 2.8 billion dollars, or 1.65 dollars per share in 2014, while full-year earnings before interest and tax adjusted rose to 10.8 billion dollars, up from 6.5 billion dollars a year earlier.

In March, Ford said its Chief Executive Officer Mark Fields received a 17.4-million-dollar compensation from salary, bonus and stock awards, 17 percent more than in 2014. However, including pension and perks, Fields made 18.6 million dollars, 300 million dollars less than in the previous year, because of a 2.8-million-dollar lower pension award.

In comparison, Sergio Marchionne, the CEO of Fiat Chrysler Automobile, received last year a 4-million-dollar salary and a 6.85-million-dollar bonus, down from 38.0 million dollars in 2014 when he was awarded with a big merger-related bonus. But Marchionne’s total compensation was an estimated 73.6 million dollars, including the value of the stock awards when they vested, which he may not yet cash in, and their value fluctuates over time.

Via Reuters