Satya Nadella is on an $84 million pay package, though most of it is in the form of stock awards
Microsoft boss Satya Nadella is being paid a package worth $84.3 million, as revealed in a regulatory document filed on Monday. Most of the money Satya gets is in the form of long-term stock awards.
According to the regulatory, Nadella got a salary of $918,917 and a $3.6 million bonus for the fiscal year that ended on June 30. He was also provided with stock awards worth nearly $79.8 million, though most of the payments will be made over the years.
The company says that Nadella’s actual compensation for the fiscal year 2014 is worth $11.6 million excluding the long-term stock awards. He also got a $13.5 million one-time retention award after getting promoted to the CEO position.
The pay package Nadella is on includes a long-term performance-based stock awards valued at $59.2 million. He won’t be receiving any of that until 2019, and the final amount will depend on the performance of Microsoft’s stock relative to other companies in the Standard & Poor’s 500 index.
At a cloud computing event yesterday, Nadella readdressed the controversy surrounding his recent comments on the pay a female employee gets in the tech industry. Nadella had originally advised women to not ask for a pay raise, and to hope that the “good karma” will come in handy at some point in life. However, he had later apologized for his “inarticulate” remarks, and said that the tech sector must try harder to close the gender pay gap.Further reading: CEO, Microsoft, Satya Nadella