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

BENGALURU IBM CEO Arvind Krishna will receive a base salary of $ 1.5 million beginning April 6, the date he took over. According to filings with him, Krishna's annual incentive target for 2020 is $ 3 million, prorated for the period April through December.

The board also approved a 2020 long-term incentive award of $ 13.8 million for Krishna, which comprises 35% of Restricted Stock Units (RSU) and 65% of Performance Participation Units (PSU) 2020 -2022. These RSUs and PSUs will be awarded 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, according to the 2020 annual meeting notice and declaration of power. He was paid $ 2 million as base salary and a bonus of $ 11.6 million last year. .

IBM president'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 of Red Hat before it was acquired by IBM last year.