Dozen top GM execs share $13M in stock
A dozen top General Motors Co. executives have been awarded a total of about $13 million in company stock as part of their overall pay packages, the automaker disclosed today.
The awards, disclosed in filings with the U.S. Securities and Exchange Commission, paint a fuller picture of executive compensation at GM, which went through bankruptcy last year and has received about $50 billion in bailout funds
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Source: Dozen top GM execs share $13M in stock
The awards, disclosed in filings with the U.S. Securities and Exchange Commission, paint a fuller picture of executive compensation at GM, which went through bankruptcy last year and has received about $50 billion in bailout funds
Quote from the article:
| Cash paid to senior executives was set earlier this year by Kenneth Feinberg, the Treasury Department's special master on pay for firms that got large bailouts from the $700 billion Troubled Asset Relief Program. His guidelines resulted in fewer executives being paid cash salaries above $500,000 this year. GM sought to pay 16 of its top 25 executives more than $500,000 each, but Feinberg approved more than $500,000 for only eight. Cash is only one part of the executives' compensation. They also receive restricted and salary stock. The executives must wait at least one year to cash in the salary stock and three years for the restricted stock. |
Source: Dozen top GM execs share $13M in stock
