Fiat CEO Earned EUR2.45 Million Salary, Stock Options, Grants
March 15 2012 - 11:11AM
Dow Jones News
Fiat SpA (F.MI) paid Chief Executive Sergio Marchionne a base
salary of EUR2.45 million last year, the company said in a report
on compensation posted on its website, MF-Dow Jones reported
Thursday.
Chairman John Elkann received a salary of EUR1.345 million, and
Luca Cordero di Montezemolo, Fiat's former chairman and now a board
member as well head of its Ferrari division, earned a base salary
of EUR5.552 million.
The report also showed that at the end of 2011 Marchionne had
16.9 million stock options, the result of two incentive schemes.
The bulk of the options have a trigger price of EUR6.58 a share
while some have a price of EUR13.37, according to the company.
Fiat shares traded down 1.1% Thursday at EUR4.77.
Marchionne has been granted 4 million shares in both Fiat and
Fiat Industrial SpA (FI.MI), which was spun off into a separately
listed unit in early 2011. The stock grants have a fair value of
EUR12 million, Fiat said.
Marchionne joined Fiat as CEO in 2004.
-By Rosario Murgida of MF-Dow Jones, Dow Jones Newswires; +39 06
69766920; djitaly@dowjones.com
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