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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,416.85 225.48 1.31%
Nasdaq 4,683.41 45.42 0.98%
S&P 500 2,021.25 19.09 0.95%
Treasuries 1.75 0.03 1.57%
Data as of 7:27pm ET
Company Price Change % Change
Apple Inc 118.90 3.59 3.11%
Bank of America Corp... 15.43 0.23 1.51%
Yahoo! Inc 43.73 -2.73 -5.88%
Microsoft Corp 42.01 0.82 1.99%
Facebook Inc 78.00 1.76 2.31%
Data as of 4:02pm ET

Sections

Shake Shack is a huge success in New York. But will the 'fine casual' burger and fries joint be a big hit with investors too? It looks like Wall Street has worked up its appetite for the Shake Shack IPO. More

The Wednesday announcement that Don Thompson will retire as CEO of McDonald's leaves just two black CEOs in the elite Dow 30. More

Google reported a quarterly profit on Thursday that rose from a year ago, but the company fell short of Wall Street's expectations. More

On demand delivery startup WunWun is expecting its order volume to double by the time they close up shop on Monday. All thanks to a blizzard. More

The IRS said it has carried out thousands of audits of offshore schemes and pursued criminal charges that have resulted in "billions of dollars in criminal fines and restitutions." And it won't stop there. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.