Yahoo CEO Marissa Mayer's 2015 Total Pay Valued at $36 Million
April 29 2016 - 7:27PM
Dow Jones News
By Maria Armental
Yahoo Inc. Chief Executive Marissa Mayer received nearly $36
million in total compensation for 2015, down 14.5% from the
previous year.
The Sunnyvale, Calif.-based company, hard hit by shrinking
revenue and stiffer competition in mobile search, didn't award any
cash bonuses to executives for 2015, according to a filing Friday
with the Securities and Exchange Commission.
In an amended 10-K filing on Friday, the company said that given
it is still going through a transition period as it moves to sell
its core business, its compensation committee retains the
discretion to reduce cash bonuses to $0 again.
The company hasn't said what it will do with its 15% stake in
Alibaba Group Holding Ltd., worth about $30.2 billion, and 35.5%
stake in its joint venture Yahoo Japan, worth about $8.3
billion.
For 2016, Yahoo said cash bonuses will be based on the company's
and the executive's performance factors as determined at year's
end.
The company intends to resume setting multiyear performance
goals once the company "is further along in achieving its strategic
growth plans and setting long-term goals becomes more
feasible."
The bulk of the change to Ms. Mayer's compensation came from
options awards, some based on performance. For 2015, Ms. Mayer
received about $20 million in options awards, down from $28.2
million a year earlier.
Her base salary remained at $1 million.
Chief Financial Officer Ken Goldman's total compensation was
valued at $15 million, up from $13 million a year earlier, largely
because of stock and option awards. Mr. Goldman's base salary
remained at $600,000.
If Ms. Mayer is terminated as a result of a sale of the company,
she stands to make about $54.9 million in cash severance and other
benefits. Mr. Goldman would make $16.1 million, while Chief Revenue
Officer Lisa Utzschneider stands to make $19.9 million in severance
if terminated as the result of a sale.
Shareholders will vote on the compensation program at the
company's annual meeting. Yahoo hasn't scheduled its meeting yet,
and the shareholder vote is advisory only.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
April 29, 2016 19:12 ET (23:12 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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