 "Yahoo! CEO Mayer's package shrinks")
Yahoo! Chief Executive Officer Marissa Mayer's compensation package declined 15 per cent last year as pressure built to sell the company amid a failed turnaround.
Mayer's total compensation dropped in 2015 to $35.98 million from $42.1 million a year earlier, according to a regulatory filing. With a decline in the company's stock price, Mayer's realised pay was $13.9 million, Yahoo said in the filing.
Mayer's realised pay included stock awards and options based on Yahoo!'s April 1 share price of $36.48. The CEO's compensation also declined because the company failed to meet key financial goals last year, according to the filing. The shares closed at $36.60 on Friday and have declined 15 per cent in the past 12 months.
The value of Mayer's pay fell as her effort sputtered to separate the company's valuable stake in China's e-commerce giant Alibaba Group without a tax hit. She had to reverse course in the final month of 2016, raising the ire of investors. The company is now reviewing bids for the sale of its main Web operations.
Earlier this week, the company averted a proxy war when it settled with activist shareholder Starboard Value, which had attempted to replace Yahoo!'s entire board.
