GM CEO's 2012 Pay Package Up 44 Percent
DETROIT (AP) — General Motors Co. boosted CEO Dan Akerson's pay package by 44 percent last year, as the value of his stock awards significantly increased.
Akerson earned $11.1 million in salary and stock awards last year, compared with $7.7 million in 2011. The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
Akerson's annual salary remained steady at $1.7 million but his stock awards rose to $9.3 million, up from $5.9 million in 2011. The numbers were revealed in GM's annual proxy statement filed Thursday with regulators.
The company says Akerson's total compensation remains below the bottom 10 percent of executives in comparable positions due to government pay restrictions. The Treasury Department limits GM executive pay because the company took government bailout funds.