April 25, 2013 / 4:22 PM / in 4 years

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.

Dan Akerson, General Motors Chairman and Chief Executive Officer, delivers a speech at the Adam Opel AG headquarters in Ruesselsheim April 10, 2013. REUTERS/Lisi Niesner

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

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