Yahoo CEO Marissa Mayer was paid $42 million in 2014, the search company said, and she could have made lots more if business had been better.
According to Yahoo's
proxy statement to the U.S. Securities and Exchange Commission on Wednesday, Mayer's salary included $11.75 million in stock awards and another $28.19 million in option awards.
CNN Money reported, though, if Yahoo had reached performance goals, Mayer could have made in upwards of $55 million, instead she missed receiving another $13 million in pay and stock compensation.
"Yahoo's board sets performance goals for its executives every year, and how close they come to meeting those targets determines how much they get paid," wrote CNN Money's David Goldman. "The company's revenue only equaled 92 percent of the $5 billion performance target last year and adjusted profit only came in at 93 percent of the $1.5 billion Yahoo was hoping for."
"That's why Mayer was only eligible for 55 percent of her $2 million target bonus (she ended up taking home $1.1 million). Also, Mayer only received 69 percent of a possible $40 million in stock awards (she took home $27.5 million worth of those options and grants)," Goldman wrote.
The news didn't get much better for Yahoo in April when the company missed its earnings and revenue forecasts for the first quarter,
according to USA Today. Yahoo reported adjusted earnings of 15 cents a share, tumbling 61 percent from the first quarter in 2014.
Adjusted revenue for Yahoo fell four percent to $1.04 billion, while forecasters were predicting revenues of $1.05 billion.
"Clearly when you miss the top line and the bottom line, that's going to raise questions," Scott Kessler at S&P Capital IQ told USA Today last month.
Despite the numbers, Mayer earned compliments from the board in the proxy statement, pointing out her overall performance.
"Our stock has nearly tripled in value since Ms. Mayer was hired as our CEO, rising from $15.65 on July 16, 2012 (her hire date) to $44.13 on April 1, 2015, significantly outperforming the Nasdaq-100 index for this period of time by over 100 percent, as shown graphically below," the board wrote.
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