General Motors has given large amounts of its stock to twelve top executives as part of their extra incentive pay, The Detroit Free Press reports. Among those granted shares are CEO Mary Barra, President Dan Ammann, and Mark Reuss, Executive Vice President of Global Product Development and Purchasing.
Mary Barra’s 79,639 shares of GM stock will be vested over the next three years. At Friday’s closing price of $37.62, those stocks, which Barra cannot sell until the preset dates, her shares are worth approximately $3 million.
Dan Ammann recieved 29,865 shares of the General Motors stock, while Mark Reuss recieved 25,385 shares. Unlike Barra, Ammann and Reuss can choose to sell their shares at any time that they’d like to.
The long-term incentive plan was set up last year by GM’s board of directors. Other executives who recieved various amounts of General Motors shares include Chuck Stevens, chief financial officer; Alan Batey, president of General Motors North America; Stefan Jacoby, executive vice president and head of international operations; Karl-Thomas Neumann, president of GM Europe; Jaime Ardila, president of GM South America; and Michael Millikin, executive vice president and general counsel — who will be retiring soon in the wake of the ignition switch scandal.