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General Motors awarded CEO Mary Barra a 23% pay bump in 2021

General Motors awarded CEO Mary Barra a 23% pay bump in 2021

DETROIT — Standard Motors awarded CEO Mary Barra $29.1 million in total payment final yr, up 23 percent from 2020.

Last calendar year was Barra’s eighth yr top GM. Her compensation, disclosed Friday in the automaker’s once-a-year proxy statement, contains a base salary of $2.1 million, up 5.3 p.c $14.6 million in inventory awards, up 11 percent $3.9 million in possibility awards, up 5 p.c and $7.6 million in nonequity incentive approach payment, more than double the amount of money she obtained in 2020.

GM has begun to contemplate North America electric motor vehicle quantity, rollout timing and excellent as it sets extended-expression payment for executives, Barra mentioned this week. For 2022, the EV metrics make up 15 p.c of GM executives’ performance actions. Adjusted pretax revenue margin and relative total shareholder return account for 30 p.c just about every, and inventory selections ascertain 25 %.

Barra’s payment was well worth about $6 million far more than the package presented to Ford Motor Co. CEO Jim Farley, but she also chairs GM’s board. Farley just about doubled his payment to $22.8 million past year, his initially complete calendar year as CEO.

GM’s 2021 modified earnings before taxes rose 47 percent to $14.3 billion, as earnings greater 3.7 percent to $127 billion. Modified automotive free of charge hard cash flow was about flat at $2.6 billion.