Microsoft CEO’s pay valued at $1.3M
Microsof
t Corp. Chief Executive Officer Steve Ballmer received a pay package valued about $1.3 million for fiscal 2007, a year in which profit at the world’s largest software maker topped $14 billion, according to documents filed Friday. For the year ended June 30, Ballmer received $620,000 in salary and a $650,000 bonus. Unlike some technology companies that spend millions on executive security, travel and other perquisites, Microsoft gave Ballmer a modest $6,750 in matches to his 401K retirement plan and approximately $3,000 worth of life insurance and athletic club memberships. Ballmer, who owns about 4.3 percent of Microsoft’s shares, received no equity compensation. He didn’t exercise any stock options or vest any stock awards during the year, the company said in the Securities and Exchange Commission filing. Microsoft’s compensation committee “believes that Mr. Ballmer is underpaid for his role and performance,” according to the filing. Ballmer’s compensation added up to just a sliver of the $61.2 million package Oracle Corp. gave CEO Larry Ellison in fiscal 2007. It seemed on par with the $1.28 million package Amazon.com Inc. gave CEO Jeff Bezos — except for the fact that personal security accounted for more than $1 million of Bezos’ package. Microsoft did not say what Bill Gates, the software maker’s chairman, was paid in salary and bonus during the year. Gates, who owns about 9.3 percent of Microsoft shares, did not receive any stock-based compensation. The SEC requires companies to report the compensation details for a handful of highest-paid executives, and Microsoft said Gates’ salary and bonus fell below those of Ballmer, Chief Financial Officer Christopher Liddell and three other executives.
source : Yahoo News