Microsoft CEO Nadella comp rose 63% in fiscal 2024: filing

Microsoft (NASDAQ:MSFT) Chief Executive Officer Satya Nadella received a 63% increase in total compensation in fiscal 2024, the company said in its filing with the Securities and Exchange Commission for the fiscal year.

The cash portion of Nadella’s compensation was cut to $5.2M, down from $10.66M, due in part to cybersecurity issues related to the company.

“Mr. Nadella agreed that the Company’s performance was extremely strong, but reflecting on his personal commitment to security and his role as the CEO, asked the Board to consider departing from the established performance metrics and reduce his cash incentive to reflect his personal accountability for the focus and speed required for the changes that today’s cybersecurity threat landscape showed were necessary,” the company said in the filing.

Nadella also received $71.2M in stock options, a $2.5M salary and $170,000 in other compensation. In total, Nadella received a pay package worth $79.1M, up 63% from the $48.5M he received in fiscal 2023.

Redmond, Washington-based Microsoft saw its revenue rise 16% in fiscal 2024 to $245B, while its operating income rose 24% to $109B.

In the filing, the company also asked shareholders to vote on whether the company should invest in Bitcoin. The company’s board of directors has recommended voting against this proposal.

The annual shareholder’s meeting will be held virtually on December 10, Microsoft said.

Shares of Microsoft have gained 15.6% year-to-date, below the 23.3% gain in the Nasdaq and the 22.7% gain for the S&P 500.