IBM CEO Krishna’s base salary set at $1.5 million, annual incentive target of $3 million

IBM CEO Arvind Krishna will receive a base salary of $1.5 million effective April 6, the date that he took charge. As per filings with the US SEC, Krishna’s 2020 annual incentive target is $3 million, prorated for the April to December period.

The board also approved a 2020 long-term incentive award of $13.8 million for Krishna, comprising 35% of restricted stock units (RSUs) and 65% of 2020-2022 performance share units (PSUs). These RSUs and PSUs will be granted on June 8.

“RSUs will vest 25% on June 8, 2021, 2022, 2023 and 2024, provided Krishna is an active IBM employee on these dates (unless certain requirements are met to be eligible for continued vesting). PSUs will be adjusted based on performance and will be paid out in February 2023,” IBM said in the filings.

Krishna’s predecessor Ginni Rometty was paid $20 million in compensation in 2019, as per the 2020 notice of annual meeting & proxy statement. She was paid $2 million as base salary and a bonus of $11.6 million last year.

IBM president James Whitehurst’s base salary is $1.2 million, effective April 6. His annual incentive target is $1.8 million for 2020, prorated for April to December. Whitehurst was CEO of Red Hat before it was acquired by IBM last year.

―Times of India