The CEO of Microsoft, Satya Nadella, is getting a pay increase. A $30 million one.
In line with a proxy filing revealed earlier this week and spotted by NBC, Nadella’s compensation for the fiscal yr 2024 totaled $79,106,183. $2.5 million of this was his base wage, $71.24 million was inventory awards, $5.2 million was non-equity incentive plan compensation, and the remainder was a mix of different sorts of compensation.
That is considerably greater than final yr, when Nadella’s compensation totaled $48.5 million. Whereas Nadella’s base wage remained flat between years, he noticed a large leap previously fiscal yr in inventory awards, going from $39.24 million final yr to $71.24 million this yr.
Per the submitting, the ratio of whole annual compensation of Nadella to the median worker at Microsoft was 408 to 1.
Notably, the submitting factors out that this quantity truly incorporates Nadella taking a pay reduce. The “money incentive” portion of his pay was decreased at Nadella’s personal request resulting from a safety breach in 2023 the place a Chinese espionage group hacked government email accounts by means of Microsoft. Per the submitting, with out this discount, Nadella’s non-equity incentive plan compensation would have totaled $10.66 million as an alternative of $5.2 million.
“Because the Board of Administrators appointed Mr. Nadella because the third Chief Government Officer in its historical past in 2014, Microsoft has almost tripled income to $245.1 billion, almost quadrupled web revenue to $88.1 billion, and greater than quadrupled diluted earnings per share to $11.80,” the submitting reads. “Along with one other yr of constantly sturdy monetary efficiency, Mr. Nadella and his management staff have positioned Microsoft to proceed to drive efficiency for years to come back.”
