October 21, 2014
Becoming CEO of Microsoft was a very lucrative promotion for Satya Nadella.
The longtime Microsoft employee pulled in a whopping $84.3 million this year, according to a document filed with the U.S. Securities and Exchange Commission.
Nadella cannot actually get his hands on most of the money for more than four years, however — $79.8 million is made up of one-time stock awards that do not mature until 2019.
Nadella, who replaced Steve Ballmer as CEO in February, received the large stock reward in a bid both to keep him at Microsoft during the firm’s hunt for a new CEO as well as to “give him long-term incentives as CEO,” according to Reuters.
Nadella’s pay package, not counting one-time stock awards, comes to $11.6 million this year, which includes $918,000 in salary, a $3.6-million cash bonus and an annual stock award valued at slightly more than $7 million.
Ironically, the news of Nadella’s compensation package comes not long after he made a major gaffe during the Grace Hopper Celebration of Women in Computing in Phoenix earlier this month.
He told a room full of professional women they should have “faith that the system will give you the right raises as you go along.” He said women who don’t ask for a raise will have “good karma” and will be rewarded when the time is right.
Nadella responded almost immediately with apologies on Twitter as well as a brief e-mail to employees. He later fired off a lengthy memo to employees to againapologize for his remarks.
Jennifer Cowan is the Managing Editor for SiteProNews.