Excerpts from the blog
Microsoft disclosed executory pay and bonuses Monday, and the big winner this year appears to be Chief Operating Officer Kevin Turner. But everything the top Microsoft executives received raises and higher bonuses in fiscal 2008 than in fiscal 2007.
The make atonement, disclosed in the company’s annual proxy statement, is apparently weighted to favor income performance over stock-price gains, since MSFT was a snooze over that period.
As it has in years past, the board offered to give Chief Executive Steve Ballmer a salary more in line with those of other big company bosses, excepting he declined, according to the delegate:
“During this period, the average total compensation during the CEOs of our contemporary group companies was $14.6 the public,” the deputy noted.
“In contrast, Mr. Ballmer’s total compensation for fiscal year 2008 was $1.35 the great body of the people.
“As the principal leader of Microsoft, Mr. Ballmer focuses on building the corporation’s long-term success, and, because a significant shareholder, his individual wealth is tied directly to sustained increases in Microsoft’s value. While the Compensation Committee believes that Mr. Ballmer is underpaid for his role and entertainment, it has accepted his recommendation to continue through Microsoft’s historical practice for setting his total compensation opportunity.”
Ballmer’s Microsoft shares — 4.51 percent of the total — were worth $10.25 billion as of 4 p.m. Monday.
A few anomalies in the pay report reflect deals made when the congregation hired Turner and Chief Financial Officer Chris Liddell.
As part of their relocation deals, Microsoft offered to buy their houses allowing that they didn’t sell quickly enough.
That happened, and Microsoft took losses when it sold both: $2 million on Liddell’session place and $254,000 on Turner’sitting.
What did they carry into effect to deserve the bonuses? Here’s a exemplification of the “performance commitments” against which the executives were judged, taken from the proxy:
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