Marissa Mayer, chief executive officer of Yahoo! Inc. (NASDAQ:YHOO) received a total compensation of $36.6 million in 2012 according to report from Bloomberg based on the regulatory filing of the company with the Securities and Exchange Commission (SEC) yesterday.
Yahoo! Inc. (NASDAQ:YHOO) hired Mayer to turn around the company in July last year. The company’s regulatory filing showed that Mayer received a salary of $454,862, $35 million in stock awards, and a $1.12 million bonus. She also received $40,540 in other compensations including personal security services, charitable matching contributions and life insurance premiums.
Based on the form 8K submitted by Yahoo! Inc. (NASDAQ:YHOO) with the SEC last year, Mayer’s annual base salary is $1 million per year subject to annual review. She is also entitled to receive a bonus (target amount is 200% of the base salary) under the company’s executive pension plan, which will be determined by the Compensation and Leadership Development Committee of the company’s Board.
In July, Yahoo! Inc. (NASDAQ:YHOO) set a schedule to provide stock awards for Mayer. The first $15 million equity awards (restricted stock units) was granted to her on July 26, and the additional $15 million performance based stock options was given November last year. In addition, Mayer’s Make-Whole Restricted stock units worth $14 million will also be provided based on the schedule set by Yahoo! wherein $4 million was paid in 2012, $7 million this year, and the remaining $3 million in 2014. These restricted stock units are given to her as partial compensation for the forfeiture of her salary at Google Inc (NASDAQ:GOOG).
Mayer’s Arrival at Yahoo
Mayer became the CEO of Yahoo! Inc. (NASDAQ:YHOO) after consecutive changes in the company’s board and management. Prior to her appointment, Ross Levinsohn led the company as interim CEO after Scot Thompson resigned from his position.
During her first several months as CEO of Yahoo! Inc. (NASDAQ:YHOO), Mayer focused in retaining the talented employees of the company as well as hiring executives from other companies, particularly from Google Inc (NASDAQ:GOOG). One of the executives she recruited from the search engine giant to serve as chief operating officer was Henrico de Castro, who was one of the top sales executives of Google.
Since Mayer became the CEO of Yahoo Inc. (NASDAQ:YHOO), the stock price of the company increased by 59 percent. The stock of the company traded around $24.73 per share after hours on Tuesday in New York.