After the appointment of Satya Nadella as the CEO of Microsoft, the fortunes of the company have begun rising up. As a result, the company has offered a mind blowing pay package of $84.3 Million to Satya Nadella. Most of the money will be provided in the form of long term stocks.
A document was filed on Monday that displayed the salary of Nadella for the fiscal year. He received $918,917 plus a bonus amount of $3.6 million. The stock rewards were given to the CEO of Microsoft that’s worth $79.8 million. However, most of these payments will be delivered to Satya Nadella over a count of a few years.
Microsoft has explained that the real compensation of Satya Nadella for the fiscal year accounted for $11.6 million in the year 2014. He was also awarded a $13.5 million retention award, which was given to him upon becoming the CEO of Microsoft.
Satya Nadella took over the position of CEO in February and with it, he has become the third CEO of Microsoft. The Redmond, a Washington based company reflected that the regulatory filing’s pay structure had to be modified since the previous CEO’s including the likes of Bill Gates and Steve Ballmer did not receive any stock awards as such. The reason behind it was simple; they were already having big stocks of the company.
Nadella’s performance after becoming the CEO of Microsoft has been phenomenal and the stock rewards are seen as a token of his hard work and excellence. The long term performance based stocks are valued at $59.2 million, but Nadella will not get any of the rewards before 2019. It will also relatively depend on the performance of Microsoft’s stocks when compared to the other companies in the Standard and Poor’s 500 Index.
Satya Nadella’s pay scale has created a great buzz in the market and it also shows the faith company shows in the skills of their CEO.