HP’s Whitman Earned $15 Million in 2012 After Target Miss - Bloomberg: "Hewlett-Packard Co.’s Meg Whitman received nearly $15.4 million in fiscal 2012, her first full year as chief executive officer, receiving only 70 percent of her targeted compensation as it posted a net loss for the year.
Whitman, who took a salary of $1 last year, reaped a performance-related bonus of $1.7 million, more than $7 million in stock awards and $6.4 million in options, Hewlett-Packard said in a filing yesterday. Whitman, who was already on the board, became CEO in September 2011, just before the end of that fiscal year. In that period, her compensation was $16.5 million."
Shares (HPQ) of Hewlett-Packard have declined 39 percent in the past year, as Whitman works to turn around the world’s biggest supplier of personal computers after five straight quarters of declining sales and years of botched deals, management tumult and strategic missteps. Some units may be disposed if they don’t meet goals, the company said in a Jan. 1 filing with the Securities and Exchange Commission.
The stock decline has reduced some executives’ pay from previous years, according to today’s filing. The final amount of certain restricted stock awards for Hewlett-Packard executives granted in November 2009 depended on the company’s share price performance against theStandard & Poor’s 500 Index (SPX) over three years.
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