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May 17, 2013 at 7:55 PM
New Microsoft CFO’s compensation package disclosed
New Microsoft Chief Financial Officer Amy Hood is getting about 186,000 shares of Microsoft stock as part of her compensation package, according to a filing with the U.S. Securities and Exchange Commission.
At today’s share price, that comes to about $6.5 million. Part of the stock award will vest over three years; the remaining will vest over four.
Hood’s base salary is $570,000 a year, according to a Microsoft spokesman, saying it’s company practice to have the vast majority of its top executives’ compensation be in the form of stock awards “so that their interests align with shareholders’.”
Hood is also eligible for performance-based bonuses ranging from 0 to 300 percent of a target cash award equal to 125 percent of her fiscal year 2013 base salary, according to a filing with the SEC.
Hood’s predecessor, Peter Klein, received $580,000 in base salary, $950,000 in bonus and $3.6 million in stock awards last fiscal year, according to the company’s proxy statement filed last October.