GM paid CEO Akerson $11.1 million in 2012
(Reuters) - General Motors Co (GM.N) paid Chief Executive Dan Akerson $11.1 million in 2012, a 44 percent increase from 2011 due to $2 million in restricted stock units that Akerson received in 2011 but vested in 2012.
Akerson's salary remained at $1.7 million. His stock awards totaled $7.3 million, excluding the $2 million he was awarded in 2011, GM said in a filing with the U.S. Securities and Exchange Commission on Thursday. (link.reuters.com/dap67t)
His pay package was $7.7 million in 2011.
The largest U.S. automaker has set a $9 million target for Akerson's compensation due to restrictions set by the U.S. government.
GM executives are governed by a special paymaster from the government as part of provisions put in place after the company's U.S.-funded bankruptcy restructuring in 2009.
Media reports said in February that GM wanted to pay its top executive $11.1 million for 2013, which the company had denied.
Akerson's salary lags that of Ford Motor Co's (F.N) CEO, Alan Mulally, who was paid $21 million, including stock awards, options and other perks in 2012.
(Reporting by A. Ananthalakshmi in Bangalore; Editing by Maju Samuel and Saumyadeb Chakrabarty)
- Housing, jobs data weaken, but overall economic picture still upbeat
- U.S. diplomats, but not prosecutors, seek to quell India dispute |
- Target cyber breach hits 40 million payment cards at holiday peak |
- New York Mayor-elect's reputation for lateness parodied on Twitter
- Last-minute Obamacare exemption for those with canceled plans