Marissa Mayer to receive nearly US$60m in compensation as Yahoo! CEO
New Yahoo! CEO Marissa Mayer. Image from Wikimedia Commons
Yahoo’s new CEO Marissa Mayer could be raking in close to US$60m to turn the company’s fortunes around, Yahoo! revealed in a regulatory filing. The amount includes salary, equity grants, stock options, and even a US$30m one-time retention award.
Mayer (37), who is Google’s former vice-president of Location and Local Services, is receiving compensation at Yahoo! that is largely based on performance.
An employment offer letter puts Mayer’s salary at US$$83,333.33 per month – that’s US$1m a year. Add to that an annual bonus of up to 200pc of the base salary, which is $2m. If she exceeds targets, she could also receive up to a 400pc bonus, which is US$4m.
She also receives an equity award for 2012 of US$12m in stock (US$6m) and options (US$6m) that vests over three years.
Then there’s the US$15m in stock and US$15m in options for an up-front, one-time retention reward, vesting over five years, as well as the make-whole payment of US$14m for the stock she left at Google.
And if Mayer wanted a lawyer to review and negotiate the employment offer letter, Yahoo! would even pick up the tab, up to a maximum of US$25,000.
The company will also reimburse her for security and travel expenses.