Ford Motor Company (NYSE:F) has given financial rewards to executives involved in the company. Ford CEO Alan Mulally was granted $33.4 million in stock after taxes according to a filing with the SEC. Mulally was essential in Ford’s amazing turnaround in terms of profits and stock price. Bill Ford Jr. took $25 million after tax in the form of unrestricted stock.
“It’s all stock based, tied to the long-term interests of the company,” stated Ford spokesman John Stoll. “The value today reflects the comeback of the share price, and the success of Alan and Bill.”
The compensation was agreed upon in 2008. Mulally was also given 884,443 stock options with a strike price of $14.76 and 543,743 restricted shares which can be converted up until 2013.