By Josh Beckerman 

Yahoo Inc. said Chief Executive Marissa Mayer's compensation last year was valued at $42.1 million, up from $24.9 million in 2013.

Ms. Mayer's base salary remained at $1 million.

The 2014 total included $11.8 million of stock awards, $28.2 million of option awards and $1.1 million of non-equity incentive-plan compensation.

Yahoo noted that it delivered significant returns to shareholders last year and said its focus on mobile growth "paid off in 2014."

However, Yahoo said its executives' incentive awards, including their annual cash bonuses and their equity awards tied to 2014 performance, paid out or vested "at significantly less than their target levels because rigorous annual financial goals were not fully met."

Write to Josh Beckerman at josh.beckerman@wsj.com

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