The Associated Press says Ford Motor Co. President and CEO Alan Mulally made $17.9 million last year, about 1 percent more than the previous year, as the company struggled through the worst U.S. auto sales market in decades.
Mulally took a 30 percent pay cut last February, dropping his salary to $1.4 million, and he got no bonus for the second year in a row. But the value of his stock options and stock awards rose by 9 percent to more than $16 million as the market improved and Ford's shares climbed.
The AP calculation is based on a regulatory filing. It aims to isolate the value company board place on CEOs' total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.
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