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Ford boss gets 5 million shares
16 March 2009
Ford CEO Alan Mulally has received over 5 million shares in the company as part of his 2009 stock options.
Mulally, who recently agreed a 30 per cent pay cut, will be able to collect any gains above the $1.96 issue price after a set period of time outlined in the share agreement.
But if the value of Ford’s shares fails to rise above the $1.96 threshold Mulally’s stake will be worthless, a situation he currently faces with his 2008 stock options.
The 3.5 million shares issued last year were set at a price of $6.14, substantially higher than the share’s current $2.19 value at the close of trading on Friday.
Mulally joined Ford in September 2006 when the company’s shares were trading at over $8.
George Barrow
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