Feeds

Microsoft adopts Say-on-Pay measure for shareholders

Hands 4% pay rise to Big Steve

Build a business case: developing custom apps

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. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.