F Ford Motor Company

By John D. Stoll 

Ford Motor Co. on Friday said Chief Executive Mark Fields earned total compensation of $22.1 million in 2016, up 19% from the year prior, due to a change in the value of pensions, a higher base salary and increased stock awards.

Mr. Fields, who has run Ford since mid-2014, received the lowest performance bonus of his tenure as the company's chief, earning $2.7 million in 2016. Ford's pretax profit last year of $10.4 billion was historically strong but fell short of the record $10.8 billion the company posted in 2015.

Ford's stock price has struggled under Mr. Fields, trading well below mid-2014 levels even as the company benefits from strong demand for its trucks and SUVs and earns money in a cutthroat European market that its rival, General Motors Co., is exiting. The 56-year-old Mr. Fields is working to shift the Dearborn, Mich., company's focus from building and selling conventional vehicles to placing bets on future technology and mobility schemes, such as ride sharing and autonomous cars.

Excluding a $2.8 million change in pension value, Mr. Fields was awarded $18.8 million, compared with $17.3 million in 2015. That included a $1.8 million base salary and $14.3 million in stock awards.

Write to John D. Stoll at john.stoll@wsj.com

(END) Dow Jones Newswires

March 31, 2017 09:36 ET (13:36 GMT)

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