8-K Watch: Yahoo CEO Bartz Gets $1 Million Salary; Stands To Gain $2 Million Bonus
This story was written by David Kaplan.
Yahoo's new CEO, Carol Bartz, will be paid an annual base salary of $1 million, according to an 8-K filing with the SEC. Bartz's contract also makes her eligible for an annual target bonus of $2 million, which will be based on her performance and ultimately determined by the board. Her predecessor, Jerry Yang, had been paid a base salary of $1 a year, while Sue Decker, Yahoo's soon-to-be ex president, got bumped up to $850,000 from $500,000, as we reported back in March.
The filing also noted that in order to compensate Bartz for the forfeiture of the value of equity grants and post-employment medical coverage from her former company, Autodesk, the agreement provides for an equity grant valued at $10 Million. The grant is will be parceled out to her in cash (25 percent) and restricted stock (75 percent). She also gets four weeks of vacation.
By David Kaplan