Reuters logo
UPDATE 1-GM paid CEO Akerson $11.1 million in 2012
April 25, 2013 / 6:00 PM / 4 years ago

UPDATE 1-GM paid CEO Akerson $11.1 million in 2012

* Akerson’s total compensation up 44 percent from 2011

* CEO vested $2 million restricted stock options awarded in 2011

April 25 (Reuters) - General Motors Co 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. ()

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 CEO, Alan Mulally, who was paid $21 million, including stock awards, options and other perks in 2012.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below