According to a Thursday regulatory filing by the Sunnyvale, California-based Yahoo, the company’s CEO Carol Bartz was given a base salary of $969,872 in 2009 – her first year at the helm of the struggling Internet giant -; along with additional compensation accruing from stock and option awards tied to the company’s multiyear performance targets.
Yahoo also revealed that, in addition to her salary, Bartz received $1.5 million in non-equity incentives, and $2.6 million in other compensation. While appointing Bartz last year, Yahoo – which saw a 38 percent rise in its shares in 2009 - had said that Bartz’s overall pay package would be ‘tightly’ linked to her ability to revive the struggling company’s share price.
Going by the sources at the Associated Press (AP), Bartz’s total compensation package last year was worth a whopping $47.2 million; most of which comprises stock incentives to inspire her bring about a turnaround at the underperforming Internet company. As such, the AP calculations include salary, perks, bonus, incentives, and the estimated value of stock awards.
Technically speaking, as per accounting rules, the Yahoo CEO’s compensation – including stock awards worth nearly $13 million and options awards worth over $29 million - represents the cumulative annual grant date fair value of awards; thereby indicating that there is no certainty whether the financial benefits of the awards will be actually realized.
- Fire threatens entire city in Alberta
- Authorities order evacuation of entire city in Alberta due to wildfire
- Mitel Networks Corp of Canada to Buy Polycom Inc for Almost $2 Billion
- Reportedly Bombardier Inc. is Nearing a Deal with Delta for C Series Jetliners
- Review shows alcohol has no net health benefits