Microsoft's top executives received a tidy pay bump for the fiscal year, largely due to the company's strong financial performance.
CEO Satya Nadella [pictured here] brought home a little more than $20 million in the 2017 fiscal year that ended June 30, up 13.1 percent from $17.7 million last year, according to the annual proxy statement filed with the Securities and Exchange Commission on Tuesday.
The executive, who took over the top role at Microsoft in 2014, received a $250,000 bump in his base salary, bringing it to $1.45 million this year. Nadella received $7 million in cash incentives, compared with a bonus of $4.5 million last year.
Starting in the 2017 fiscal year, Microsoft replaced traditional bonuses with cash incentives that were based on the company's financial performance as well as categories such as innovation, corporate citizenship and executives' leadership effectiveness.
Nadella also received $11.4 million in stock awards and $97,189 in other compensation such as company contributions to retirement plans and charitable matches.
Microsoft President Brad Smith was paid a total $10.3 million in 2017, up 19.9 percent from $8.6 million in 2016. He received a $785,833 base salary, $6.2 million in stock awards, a $3.2 million cash incentive and $98,989 in other compensation.
Chief Financial Officer Amy Hood received $11.6 million, an 11.6 percent bump from last year.
Business development executive vice president Peggy Johnson made $6.9 million, an increase of 2.5 percent.
Global sales subsidiary chief Jean-Philippe Courtois received $18.3 million. Courtois was listed in the proxy filing for the first time after taking over as head of the company's sales subsidiaries in September 2016. He also received $14.7 million in stock awards.
Microsoft also announced Tuesday it plans to add two new members to its board of directors. Penny S. Pritzker and Arne Sorenson are expected to be appointed at Microsoft's shareholders meeting on Nov. 29.
Pritzker served as the U.S. Secretary of Commerce during the Obama administration, from 2013 until January of this year. She now is founder and chairman of PSP Capital. Sorenson has been president and CEO of hotel company Marriott International since 2012.
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