Microsoft chief Satya Nadella's pay packet shrinks; still takes home $17.7 million!

India-born chief of Microsoft Satya Nadella saw his pay packet shrinking to US $17.7 million (about Rs 117.7 crore) in the fiscal ended June, including a bonus of US $4.4 million.

Nadella, who is betting on technologies like cloud computing and artificial intelligence to steer the software major's growth, had a compensation of USD 18.3 million in the year ended June 2015.

This year's compensation includes a base salary of US $1.2 million, along with bonus (US $4.46 million), stock award (US $12.01 million) and other compensation (US $14,104), according to a preliminary proxy statement filed on 3 October.

The stock award value is calculated on the basis of market price as of the date of grant of common stock awarded and other criteria.

Assuming that the highest level of performance conditions are met, the value of Nadella's performance stock award would be little over US $13.83 million, as per the filing.

"Nadella received when he was promoted to CEO, with a grant date fair value of US $59,184,000; he will not be eligible to receive any part of this long term performance stock award compensation until 2019, if he continues to serve as CEO," it added.

Microsoft Executive Vice President and CFO Amy E Hood's compensation stood at US $10.37 million, while that of Chief Operating Officer B Kevin Turner was at US $12.95 million for 2016.

-PTI