Microsoft gives CEO Ballmer $1.3 million pay package

Microsoft Corporation Chief Executive Officer Steve Ballmer received a $1.3 million pay cheque ($620,000 in salary and a $650,000 bonus) for fiscal 2007, a year which ended June 30 and in which profit at the world's largest software maker topped $14 billion. Microsoft gave Ballmer a modest $6,750 in matches to his 401K retirement plan and approximately $3,000 worth of life insurance and athletic club memberships. Ballmer, who owns about 4.3% of Microsoft's shares, received no equity compensation. He didn't exercise any stock options or vest any stock awards during the year, the company said in the Securities and Exchange Commission filing.

Microsoft's compensation committee "believes that Mr. Ballmer is underpaid for his role and performance," according to the filing. Microsoft did not say what Bill Gates was paid in salary and bonus during the year. Gates, who owns about 9.3% of Microsoft shares, did not receive any stock-based compensation. The SEC requires companies to report the compensation details for a handful of highest-paid executives, and Microsoft said Gates' salary and bonus fell below those of Ballmer, Chief Financial Officer Christopher Liddell and three other executives.

News source: Mercury News

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