DETROIT -- Alan Mulally, chief executive officer of Ford Motor Co., is $34.5 million richer after shares awarded in 2009 vested this week.
Mr. Mulally's compensation in 2010 was $26.5 million, making him the ninth highest-paid CEO in the United States last year, according to calculations by the Associated Press.
Ford said its stock was at $1.96 a share at the time of the 2009 awards, and it is over $12 a share today. Mr. Mulally was given 4.8 million stock units for his performance in 2009, a pivotal year in the company's turnaround, when it posted its first annual profit since 2005. Ford withheld 1.9 million shares for taxes. The remaining 2.85 million were converted, according to a regulatory filing Tuesday.