Compensation figures released by the tech giant this week show that Mr Smith’s total compensation has grown an impressive 24 per cent since he was promoted to president and CLO just over a year ago. Mr Smith’s total take-home pay has clocked in at $8.6m for 2016, up from $6.8m last year. This includes $704,00 in salary, plus approximately $1.9m in bonuses and the remainder primarily in stock awards.
Rising to the task
Having served as Microsoft’s general counsel since 2002 and EVP of legal and corporate affairs since 2011, Mr Smith was elevated to the role of president and chief legal officer in 2015 after Microsoft chief executive officer Satya Nadella recommended he play a more substantial role in the leadership of the company. His overall compensation in 2016 represents 140 per cent of his compensation target for the year – solid evidence that Microsoft feels more than happy with how Mr Smith has risen to the task.
How it compares
At $8.6m, Mr Smith is now the fourth most highly paid executive at Microsoft. Mr Nadella sits atop the ladder with $17.6m in total compensation including nearly $4.5m in cash bonuses, though this figure represents 126 per cent of his own compensation target and is in fact lower than the $18.3m he took home in 2015. Also above Mr Smith are chief operating officer Kevin Turner with $12.9m in total compensation and chief financial officer Amy Hood with $10.2m. The only other executive listed in Microsoft’s compensation table, EVP for business development Margaret Johnson, came in below Mr Smith with $6.7m in total take-home compensation.
Sources: BigLaw Business; Business Insider; Microsoft
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