Microsoft’s board has approved a compensation program to ensure that the company holds on to key leaders at a time when CEO Steve Ballmer has said he would be retiring within 12 months.
Under the program, certain executives may be awarded stock grants to achieve certain company goals. Those goals include “ensuring continuity of key leaders during the transition to a new chief executive officer” and “preserving our competitive position by enhancing retention of key executives with critical skills of strategic importance,” according to a filing with the U.S. Securities and Exchange commission.
The awards can also be given for “sustained exceptional performance providing significant value to the company” and for “ensuring that our key executives have sufficient unvested equity to provide alignment with shareholders.”
The filing did not specify which key executives might receive these awards.