Ford awards Mulally nearly $12 million in performance bonuses
Automotive News
March 5, 2013
DETROIT (Reuters) -- Ford Motor Co. CEO Alan Mulally this week was awarded performance bonuses worth nearly $12 million, Ford disclosed to U.S. regulators on Tuesday.
The amount Mulally makes from the shares depends on their value on the day he sells them. They were worth $11.7 million based on Tuesday's closing price of $12.88.
Ford also said Mulally received $7 million of shares that became fully vested this week, based on 2010 equity awards.
In addition, Mulally was awarded 745,526 shares in stock options with a strike price of $12.75 a share, which was Monday's closing price for Ford stock.
Ford filed documents with the U.S. Securities and Exchange Commission on Tuesday showing the stock awards for Mulally and other Ford executives.
Mulally, 67, has led the turnaround of the No. 2 U.S. automaker since he became chief executive of a then-struggling company in 2006.
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