Mayer's 2013 target bonus set at double salary
Marissa Mayer: $US1.1 million bonus. Photo: AP
Yahoo paid chief executive Marissa Mayer a bonus of $US1.12 million in 2012, adding to her pay because the company met its targets for revenue and operating margins.
Though Mayer, who left Google to join Yahoo in July 2012, received a prorated bonus for working less than a full year, her compensation was increased because the company topped its expectations, said Sara Gorman, a spokeswoman at Sunnyvale, California-based Yahoo.
Yahoo shares have surged more than 40 per cent since the hiring of Mayer, who recorded the company's first annual sales increase in four years in 2012. The CEO has updated Yahoo's home page, revamped its mail and Flickr applications and announced plans to return cash to shareholders through buybacks.
Mayer will receive a salary of $US1 million and a target bonus of twice that amount this year, unchanged from last year, the company said yesterday in a filing with the US Securities and Exchange Commission.
She stands to receive more than $US50 million in compensation over the coming years, including $US12 million in restricted stock units and stock options, $US30 million in one-time retention awards and $US14 million to make up for stock-based compensation she would have received at Google, the company said in a filing last year.
Chief financial officer Kenneth Goldman's target bonus was set at 90 per cent of his 2013 base pay of $US600,000, which was also kept the same, according to today's filing.
Bonuses will be determined by operating income, free cash flow and revenue, excluding costs to attract web traffic, according to the filing.
Yahoo shares fell less than 1 per cent to $US22.80 yesterday at the close in New York. They have gained 58 per cent in the past year.