Ford CEO compensation rises 11% to $29.5 million

3/31/2012

 

DEARBORN, Mich. -- The pay package for Alan Mulally, Ford Motor Co. chief executive officer, rose 11 percent last year to $29.5 million, or a little more than $5 per vehicle sold, the company said Friday in a filing with the Securities and Exchange Commission.

Mr. Mulally's salary was $2 million, up 43 percent from 2010, and he received stock awards valued at $13.9 million, up 86 percent from the prior year. But his performance bonus dropped 42 percent to $1.8 million because Ford fell short of targets in some areas. He also received $612,587 in other compensation such as use of a private jet, a personal car and driver, and security.

The filing also said Ford's annual meeting is to be held May 10 in Wilmington, Del.