Ford Motor Co. (F) awarded Chief Executive Officer Alan Mulally $58.3 million in stock as a reward for the automaker’s turnaround.
Ford paid the stock to its top executive as part of an incentive plan for 2009, according to filings yesterday with the U.S. Securities and Exchange Commission. Ford earned $29.5 billion in the last three years after $30.1 billion in losses from 2006 through 2008. The shares, which traded as low as $1.01 on Nov. 20, 2008, closed yesterday in New York at $12.09.
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