Ford CEO Jim Farley’s total compensation grew 26% last year, despite falling short of his potential bonus target, according to the automaker’s annual proxy statement filed with U.S. regulators.
Farley’s 2023 compensation package came out to $26.47 million, up from $20.99 million in 2022. The majority of his compensation came from stock awards, worth roughly $20.3 million, while Farley’s base salary remained unchanged at $1.7 million. His nonequity incentives fell to $2.75 million from $3.67 million, because he hit 71% of his annual bonus plan award target.
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