GM awards CEO Barra, other top execs, with shares worth millions
Barra is being awarded 79,639 restricted shares as part of GM's long-term incentive plan in 2015, over 10,000 more than last year. Based on the current market value, they are worth around $3 million, Reuters estimates. She isn't the only one receiving additional stock, though. Company president Dan Ammann gets 29,865 shares, worth around $1.1 million, and product development chief Mark Reuss receives 25,385 of them, valued at about $955,000 presently.
Barra had a base salary of $1.6 million in 2014, $100,000 less than previous CEO Dan Akerson. However, a short-term incentive plan and 69,214 restricted shares from the long-term incentives, according to Reuters, pushed her up to the roughly $14.4 million in total. That was a healthy jump over the $11.1 million Akerson made in his final year as boss.
For all of 2014, GM reported adjusted earnings before interest and taxes of $6.5 billion, down from $8.6 billion in 2013, and the automaker paid out about $2.8 billion in recall-related costs in that time. Net income for the year was $2.8 billion, a drop of about $1 billion.
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