Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Ford's Mulally awarded $33 million in stock

alan_mulally_bill_ford.gi.top.jpgFord CEO Alan Mulally and Bill Ford Jr., the automaker's executive chairman, were both granted stock. By Charles Riley, staff reporter

NEW YORK (CNNMoney) -- Ford Motor has rewarded the executives responsible for its turnaround, granting CEO Alan Mulally $33.4 million in stock after taxes, according to filings with the Securities and Exchange Commission.

Mulally has overseen a tremendous turnaround for the automaker -- both in terms of stock price and profit. On March 3, according to the SEC filing, he received the stock, as well as a slew of options and restricted shares.

Also cashing in was the company's executive chairman, Bill Ford Jr., who took home $25 million after tax in the form of unrestricted stock.

A spokesman for Ford said the awards are in line with Ford's philosophy of tying compensation to performance and long-term shareholder value.

"It's all stock based, tied to the long-term interests of the company," said spokesman John Stoll. "The value today reflects the comeback of the share price, and the success of Alan and Bill."

The compensation was agreed to by the company's board in 2008, the same year that Ford shares dipped below the $2 mark. On Monday, shares closed at $14.01.

Mulally also received 884,443 stock options with a strike price of $14.76 and 543,743 restricted shares that can be converted up until 2013, according to the SEC filing. To top of page

Index Last Change % Change
Dow 17,813.39 1.20 0.01%
Nasdaq 5,116.14 13.34 0.26%
S&P 500 2,088.87 -0.27 -0.01%
Treasuries 2.23 -0.01 -0.49%
Data as of 8:02pm ET
Company Price Change % Change
Pfizer Inc 32.87 0.90 2.82%
HP Inc 12.64 -2.00 -13.66%
General Electric Co 30.36 -0.30 -0.98%
Bank of America Corp... 17.44 -0.03 -0.17%
Freeport-McMoRan Inc... 8.10 -0.20 -2.41%
Data as of Nov 25


Looks like the Magic Kingdom is lacking some sparkle. Disney's cable channels have lost millions of subscribers in recent years. More

Brazilian police arrested a prominent senator and billionaire CEO for interfering in the investigation of Petrobras, which has pushed Brazil into recession. More

Watsi crowdfunds donations to cover healthcare costs of those in need. And it's seeing a surprising trend: micro-donations via the popular Chinese social networking app, WeChat. More

Some of the coolest toys this year are from small businesses. Here are 10 hot toys that just might be a smash hit this holiday season. More

Facebook just increased the amount of paid time off new dads working at its international offices can take. More