Nadella’s package for FY 2024 includes a stock award of USD 71.2 million (approximately Rs 600 crore), according to the SEC filing.
New Delhi: Microsoft CEO Satya Nadella witnessed a major jump in salary in the fiscal year 2024. According to the reports, the salary of Indian-origin Microsoft boss rose by 63 percent i.e. approximately USD 79.1 million (around INR 665 crore) in 2024. The U.S. Securities and Exchange Commission (SEC) filing states that Nadella’s stock awards saw a significant increase. To recall, last year received stock awards worth USD 39 million, which have now been raised to USD 71 million. However, the filing also revealed that Nadella requested a reduction in his cash compensation, citing cybersecurity concerns. He hinted at a possible “China angle” behind this decision.
Nadella became Microsoft’s CEO in 2014. During his tenure, the company’s revenue has nearly tripled to USD 245.1 billion, net income has quadrupled to USD 88.1 billion, and earnings per share have risen to USD11.80.
Salary of Microsoft CEO Sayta Nadella (Breakup):
- Nadella’s package for FY 2024 includes a stock award of USD 71.2 million (approximately Rs 600 crore), according to the SEC filing.
- Additionally, he will receive USD 5.2 million (approximately USD 44 crore) as part of a non-equity incentive plan.
- His base salary will be USD 2.5 million (over USD 21 crore).
- Moreover, he will receive USD 170,000 (around ₹15 lakh) as miscellaneous compensation.
- However, his cash incentive has been reduced from USD 10.7 million to USD 5.2 million.
- His total cash-based income, including base salary and additional compensation, amounts to approximately USD 7.87 million.
There has been a significant rise in cybersecurity threats and breaches which pushed Nadella to request for his salary cut. The company has recently faced several cybersecurity breaches. In July 2023, a global outage affected Windows users.
Earlier in April, the U.S. Department of Homeland Security published a report stating that China had breached the email accounts of U.S. officials, which Microsoft revealed in July. In January, Russian intelligence accessed the email accounts of some top Microsoft officials.
Nadella, considering his personal commitment to security and his role as CEO, requested to step away from the performance metrics established by the board and to reduce his cash incentives, according to the SEC report.