General Motors has awarded Chairman and CEO Dan Akerson with exactly 76,249 shares of stock on March 15, according to an SEC filing. In money speak, that’s $1.9 million in shares at current trading prices. But that doesn’t matter, because the shares are a part of Akerson’s long-term executive compensation plan and he won’t be able to cash in until March 15, 2014, when two-thirds of the stock will be eligible to be converted to common stock. Who knows what they will be worth then.
And while that’s plenty for Akerson, Ford Motor Company recently awarded 376,016 of restricted stock units to CEO Alan Mulally.
Other executives listed in the SEC filing were vice chairman Stephen Girsky (57,187 shares), product development chief Mary Barra (53,374 shares), GMNA president Mark Reuss and GMIO president Tim Lee (each with 44,415 shares), and GM Europe chief Karl-Friedrich Stracke (21,541 shares) — all of which are subject to the same restrictions as Akerson.
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Are these stock options… ir something different?