CEO Pay Watch General Mills Inc.
Ken Powell, chairman, CEO
Total compensation: $10,514,940 for the year ended May 31, 2013
Non-equity incentive pay: $2,180,504
Other compensation: $198,020
Exercised stock options: $2,491,207
Value realized on vesting shares: $4,511,626
New stock options: 320,249
Total return to shareholders: 26.9 percent
Note: Powell’s compensation, including the value of previously issued options and stock awards that were exercised or vested in the last fiscal year, increased 46 percent over the same amount the previous year.
Powell’s salary and cash incentive bonus for the year went up 2.3 percent and 33 percent, respectively, but the biggest increase to his compensation was from exercised options and restricted stock that vested.
Last year Powell gained $2.5 million from exercised stock options and $4.5 million from restricted stock that vested. The combined total of $7 million was up 66 percent compared to the previous year.
Effective Aug. 1, Powell will be getting a 3 percent increase in his annual salary to $1,171,400 per year.