In a regulatory filing released today, General Motors indicated that the total compensation package awarded to CEO Mary Barra in 2015 had risen 77 percent from the previous year.
The compensation package includes $1.75 million in base salary, $3 million in short term incentives and $12 million in stock grants that will vest over a period of three years if GM reaches undisclosed goals for its operating profit and global market share. GM also awarded Barra a $11.2 million grant for stock options.
Barra’s “realized” compensation, including salary, vested stock awards and incentives amounted to $7.3 million.
Under Barra, GM posted record sales and pretax operating profits of $10.8 billion in 2015 on revenue of $152.5 billion. GM’s operating margin also reached 7.1 percent, its highest level since the company filed for bankruptcy in 2009.
Barra was appointed GM CEO in January 2014.