HP's Whitman Took Home $19.6 Million Last Year

Hewlett-Packard CEO Meg Whitman, the executive who is engineering a split of the 76-year-old computing giant, was paid a combined $19.6 million in salary, stock and bonuses in 2014, up from a combined $17.6 million in 2013.

The details of her compensation were revealed in HP’s annual proxy filing made with the U.S. Securities and Exchange Commission today.

Whitman’s pay included an incentive bonus worth $4.3 million in addition to a base salary of $1.5 million annually. (Whitman’s base salary had been one dollar in the prior two years. The company’s board raised her salary last year after determining that her turnaround plan, begun in 2011, had started to work.) It also includes HP shares that were worth $8.1 million as of January 15, 2014, and options to acquire HP shares worth $5.4 million.

The filing shows that in her years at HP, Whitman has amassed stock and options awards amounting to 4.4 million shares, which on paper are worth nearly $160 million as of HP’s closing price on Friday. Most of that is in the form of options that Whitman has the right to acquire at some time in the future. According to data compiled by Thomson Reuters, she directly owns 328,964 shares worth about $12 million as of Friday’s closing. Forbes Magazine pegs her total net worth at $2 billion, about half of that from her shares in eBay, where she was CEO from 1998 to 2007.

By comparison, Whitman’s pay was higher than what IBM CEO Ginni Rometty was expected to make, according to a filing last year. In a regulatory filing on Friday, IBM said Rometty received a base salary of $1.5 million and a bonus payment of $3.6 million, and long-term equity awards worth $13.3 million. Oracle’s Larry Ellison received $67.3 million in 2014, his final year as CEO, almost all of it in Oracle shares.

Dion Weisler, an HP executive and head of its printing and personal systems group who will be CEO of HP Inc. after the split later this year, was paid a combined $13.5 million. That included a base salary of $831,000, stock and options awards worth $5.6 million and an incentive bonus worth $1.7 million. He was also entitled to a tax benefit worth $5.6 million connected with his move from Singapore to HP’s headquarters in Palo Alto, Calif. His compensation rose from $9.2 million in 2013, the year he was promoted to take over the printing and PC unit.

The filing also shows Dodge and Cox, the San Francisco-based investment firm that is now HP’s largest shareholder, controlling 9 percent of its shares. The Boston-based investment firm State Street Corp. was the second-largest shareholder, controlling 5.7 percent of the company’s shares.

This article originally appeared on Recode.net.

Will you support Vox’s explanatory journalism?

Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:

First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.

Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.

So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)

If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.

One-Time Monthly Annual

$5/month

$10/month

$25/month

$50/month

Other

$

Yes, I'll give $5/month

Yes, I'll give $5/month

We accept credit card, Apple Pay, and Google Pay. You can also contribute via