Feeds

Microsoft adopts Say-on-Pay measure for shareholders

Hands 4% pay rise to Big Steve

Secure remote control for conventional and virtual desktops

Microsoft jacked up CEO Steve Ballmer’s salary by four per cent for the company’s bumpy 2009 financial year, which ended in June.

Redmond paid Ballmer $665,833 compared to his 2008 salary of $640,833, according to a US Securities and Exchange Commission regulatory filing.

The Microsoft boss, who at the start of this year announced the software vendor would cut around 5,000 jobs, said he didn’t want any equity compensation from the firm.

Ballmer currently owns around 408m MS shares worth more than $10bn. Microsoft didn’t reveal its boss’s bonus for the year. Ballmer reeled in a $700,000 bonus in 2008.

In January Microsoft told its employees and execs that they wouldn’t be handed merit-based pay rises for the 2010 fiscal year.

The decision followed the company’s first ever drop in annual sales and operating profit, which fell nine per cent to $20.9bn. Shares tumbled more than 13 per cent over the same 12-month period, as Microsoft - like so many other firms - tried to ride out the financial storm.

Microsoft said it has left its quarterly dividend at 13 cents per share.

Additionally, Microsoft’s board adopted a “Say-on-Pay” policy on Friday that the company first mulled in May this year.

The measure gives shareholders the opportunity to voice their opinion every three years about bonuses and salaries received by the vendor’s execs.

“Under the policy adopted by the Board today, Microsoft shareholders will be able to cast a non-binding, advisory vote every three years on the compensation programs for our senior executive officers,” said Microsoft’s general counsel Brad Smith.

He confirmed that the first such vote would take place at the software maker’s annual shareholders’ meeting on 19 November. ®

Intelligent flash storage arrays

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.