Sunday, April 28, 2013

GM alters Akerson's pay mix because he may retire

GM alters Akerson's pay mix because he may retire

General Motors has tweaked CEO Dan Akerson's pay mix to compensate for the possibility that the 64-year-old executive may retire before his long-term restricted stock vests in three years. Last year, Akerson saw his pay jump by 44 percent to $11.1 million, including $1.99 million in restricted stock as salary units, which vest immediately. Previously, Akerson was awarded around $2 million in restricted stock that could be forfeited on retirement. The change has led some analysts to believe Akerson may retire earlier than he had planned.

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