DETROIT (Reuters) - Ford Motor Co (F.N) Chief Executive Alan Mulally was awarded performance bonuses worth $13.8 million for 2013, the No. 2 U.S. automaker disclosed to U.S. regulators on Thursday.
The amount Mulally makes from the restricted stock he received depends on its value on the day he sells it. The shares were worth $13.83 million based on Thursday’s closing price of $15.67.
Mulally now owns Ford common stock worth $96.9 million at Thursday’s closing price.
His 2013 restricted stock award is 882,352 shares that convert to common stock on March 4, 2016, according to a Ford filing with the U.S. Securities and Exchange Commission.
Reporting by Bernie Woodall; Editing by Steve Orlofsky