GM has filed its 8-K form with the Securities and Exchange Commission, outlining a portion of the 2014 compensation for CEO Mary Barra and President Dan Ammann. And despite the fact that the automaker no longer needs to abide by executive pay restrictions, the salary figures seem consistent with what we’ve been seeing for the past few years.
Barra’s 2014 compensation came in at around $4.4 million, broken up into $1.6 million in salary and $2.8 million under the company’s short-term incentive plan. Meanwhile, Ammann’s compensation will be considerably less at just over $2 million, made up of $900,000 in salary and $1.125 million under the same incentive plan as Barra’s. In other words, one Bugatti Veyron Grand Sport, or 167 Chevrolet Sparks.
What’s more, outgoing GM CEO Dan Akerson is eligible for up to $4.7 million ($1.7 million salary and $2.975 million in short-term stock incentives) annually while he’s working as an advisor to the company, according to an SEC filing. If he leaves before the year is up, he will receive some fraction of that compensation.
To note, these totals do not account for any monies that could be awarded under GM’s long-term incentive plan, which are subject to approval by GM’s stockholders at the upcoming annual meeting in June. More details will be released at GM’s 2014 proxy filing in April.