Microsoft's Ballmer gets less than `A' grade in compensation

Microsoft's Ballmer gets less than `A' grade in compensation

Credit: AFP/Getty Images

Microsoft CEO Steve Ballmer speaks during the press conference of the Finnish mobile manufacturer Nokia in Espoo on September 3, 2013. Nokia announced the sale of its mobile phone unit to Microsoft for 5.44 billion euros (7.17 billion US dollars), bringing to an end its days as a phone maker. Nokia will grant the US software giant a 10-year non-exclusive licence to its patents and will itself focus on network infrastructure and services, which it called "the best path forward for Nokia and its shareholders." AFP PHOTO / LEHTIKUVA / MARKKU ULANDER *** FINLAND OUT *** (Photo credit should read MARKKU ULANDER/AFP/Getty Images)

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by Associated Press

NWCN.com

Posted on October 4, 2013 at 6:04 AM

Microsoft CEO Steve Ballmer was awarded 79 percent of his target bonus for the year through June as the software giant cited falling profits for its Windows division and sluggish sales of the Surface tablet.

The $550,000 award was detailed in a securities filing Thursday. It's tiny compared with Ballmer's $11.3 billion fortune in Microsoft stock but shows board dissatisfaction. Ballmer said in August that he'd step down within 12 months.

Ballmer has long requested relatively low pay for the CEO of a major U.S. company. His wealth is already tied to Microsoft's fortunes.

His total pay was valued at nearly $1.3 million, down 4 percent from the year before.

The Associated Press' calculation counts salary, bonuses, perks and stock and options awarded to an executive during the year.

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