New Yahoo CEO to get hefty pay package
Source: Agencies |
July 21, 2012, Saturday
|
Print Edition
Print Edition
YAHOO is giving its new Chief Executive Marissa Mayer a compensation package worth more than US$59 million over the next several years.
Yahoo! Inc has said in a regulatory filing that Mayer will receive an annual salary of US$1 million. She's also eligible for a US$2 million bonus, and US$12 million in restricted stock and stock options that will vest over the next three years.
Meyer, 37, who was lured away from Google Inc, will also receive US$30 million in a one-time retention award if she stays for five years.
Yahoo said it will also give Mayer restricted stock valued at US$14 million to partially compensate her for forfeiting money she would have received at Google. Those payments will be staggered through 2014, with US$4 million due this year.
Mayer's salary and maximum bonus this year will be capped at US$1.4 million. That's because she went to work at Yahoo on Tuesday, with just five-and-half months left in the year.
Google Inc never disclosed Mayer's compensation during her 13-year career at the Internet search leader.
But Mayer struck it rich when Google went public in 2004. She joined Google in 1999 as its 20th employee and accumulated stock options that yielded a jackpot when the company's stock soared from its initial public offering price of US$85 to nearly US$750.
Nailing down a precise value of Mayer's Yahoo pay package is difficult because so much of the compensation is tied to her ability to lift Yahoo's sagging stock. She could pocket a much larger windfall if Yahoo's shares soar during her tenure or make less if the stock remains in a funk.
The estimated value of executive pay packages can also be calculated in dramatically different ways. After factoring in future grants of restricted stock and stock options due Mayer under her employment agreement, Yahoo said her annual compensation will be worth about US$20 million annually, or about US$100 million during the next five years.
The typical CEO of a public company in the US made US$9.6 million last year, according to The Associated Press, which used data from Equilar, an executive pay research firm.
Yahoo! Inc has said in a regulatory filing that Mayer will receive an annual salary of US$1 million. She's also eligible for a US$2 million bonus, and US$12 million in restricted stock and stock options that will vest over the next three years.
Meyer, 37, who was lured away from Google Inc, will also receive US$30 million in a one-time retention award if she stays for five years.
Yahoo said it will also give Mayer restricted stock valued at US$14 million to partially compensate her for forfeiting money she would have received at Google. Those payments will be staggered through 2014, with US$4 million due this year.
Mayer's salary and maximum bonus this year will be capped at US$1.4 million. That's because she went to work at Yahoo on Tuesday, with just five-and-half months left in the year.
Google Inc never disclosed Mayer's compensation during her 13-year career at the Internet search leader.
But Mayer struck it rich when Google went public in 2004. She joined Google in 1999 as its 20th employee and accumulated stock options that yielded a jackpot when the company's stock soared from its initial public offering price of US$85 to nearly US$750.
Nailing down a precise value of Mayer's Yahoo pay package is difficult because so much of the compensation is tied to her ability to lift Yahoo's sagging stock. She could pocket a much larger windfall if Yahoo's shares soar during her tenure or make less if the stock remains in a funk.
The estimated value of executive pay packages can also be calculated in dramatically different ways. After factoring in future grants of restricted stock and stock options due Mayer under her employment agreement, Yahoo said her annual compensation will be worth about US$20 million annually, or about US$100 million during the next five years.
The typical CEO of a public company in the US made US$9.6 million last year, according to The Associated Press, which used data from Equilar, an executive pay research firm.
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