New Ford CEO Mark Fields Compensation Package Revealed

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New Ford CEO Mark Fields Compensation Package Revealed
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According to a a filing with the U.S. Securities and Exchange Commission, it was revealed that new Ford Motor Company (NYSE:F) CEO Mark Fields has been granted a compensation package worth more than $5.25 million this year as he takes over for retiring chief exec Alan Mulally.

Mark Fields will, however, also receive stock and options that will likely result in much higher total compensation for the year. Furthermore, Ford Motor Company (NYSE:F) company will also restore the use of a private jet to travel back and forth from his home near Miami that was rescinded back in 2009.

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Details on Ford CEO Fields compensation package

Incoming CEO Mark Fields is set to earn a $1.75 million base salary in 2014, plus up to $3.5 million in incentive compensation. Ford Motor Company (NYSE:F) is also offering him options to buy more than 710,000 shares of stock at Tuesday’s closing price of $17.21 per share.

The company also revealed in the filing that Fields will use the firm’s private aircraft when traveling “for safety and to maximize his availability for company business.”

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