Satya Nadella’s pay dips

satya-nadellas-pay-dipsMicrosoft Corp. chief executive officer Satya Nadella’s compensation fell 3.3% to $17.7 million in the software maker’s latest fiscal year ended 30 June.

Nadella received about $5.66 million in salary and bonus and a $12 million stock award, according to a preliminary proxy statement filed on Monday. About half of the shares will vest in 2018 if Microsoft achieves targets including revenue, operating income and a number of commercial cloud subscribers—and its stock outperforms 60% of companies in the Standard & Poor’s 500 Index. The remainder will vest in full by 2019 if he remains on the job. The data was compiled by Bloomberg.

When he was named CEO, Nadella received a stock award valued at $59 million that will vest in three increments in 2019, 2020 and 2021 if Microsoft’s total returns to shareholders exceed 60% of companies in the S&P 500 in the five prior years. The face value of the award was disclosed as part of his 2014 compensation. The company’s total return has increased 70% since Nadella took the job in February 2014, compared with a 30% increase in the index.

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