By RTT News,
February 10, 2014, 11:56:00 PM EDT
(RTTNews.com) - General Motors Corp. ( GM ) Monday said its chief executive officer Mary Barra's total compensation for 2014 is slated to be $14.4 million. The amount is up 60 percent from Barra's predecessor Dan Akerson, who stepped down as CEO in January.
The components of Barra's pay are salary of $1.6 million, short-term incentive compensation of $2.8 million and long-term compensation of $10 million.
The long-term portion is subject to approval of a new incentive plan by the company's stockholders at the annual meeting in June.
GM Chairman Tim Solso said, "As a new CEO, Mary's total compensation is in line with her peer group and properly weighted so that most is at-risk. The company's performance will ultimately determine how much she is paid."
GM said in a regulatory filing last month that it would pay Mary Barra an annual cash base salary of $1.6 million and she would be eligible to receive $2.8 million as additional compensation under the auto maker's short-term incentive plan.
Barra also is likely to receive additional compensation as part of a new long-term incentive plan that would be up for approval at the company's annual meeting this year, the automaker had added.
Following this announcement, allegations of gender bias arose that Mary Barra, the first woman to head a major automaker, was being paid less than her predecessor.
GM said Monday that it released the full figures ahead of its proxy filing in April ''to correct misperceptions created by comparisons that used only a portion of Barra's overall compensation.''
GM closed down 3.4 percent on Monday at $34.90.
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