Microsoft (MSFT, Financials) reported a 63% increase in Chief Executive Officer Satya Nadella's total compensation for fiscal 2024, according to a filing with the Securities and Exchange Commission.
Up from $48.5 million in fiscal 2023, Nadella's whole pay packet for the year came to $79.1 million. His award included $2.5 million, stock options valued at $71.2 million, and additional pay totaling $170,000. Thanks in part to cybersecurity issues, his pay's cash component dropped from $10.66 million to $5.2 million.
The complaint claims that Nadella asked for a cut in his monetary incentive, therefore demonstrating his responsibility as CEO for handling cybersecurity issues. In response to the changing cybersecurity scene, he urged the board to stray from accepted performance criteria in order to recognize the need of quicker adjustments.
With its headquarters in Redmond, Washington, Microsoft had a 16% revenue rise in fiscal 2024, coming to $245 billion. Additionally rising 24% to $109 billion is operating income.
Dec. 10 is the annual shareholders' meeting; it will take place online.
With shares now trading at $428.18, Microsoft stock has had a 15.5% increase in its stock price year-to-date.
