DETROIT — Ford Motor Co. CEO Jim Farley's total compensation soared 93 percent to $22.8 million in 2021, his first full year as the company's chief executive.
The increase is largely attributed to Farley's stock awards, which more than tripled to about $16 million, according to the company's annual proxy statement filed Friday. Farley's pay included a $1.7 million base salary, up 19 percent over 2020. His compensation also included $830,305 for personal use of aircraft.
Ford executives hit 135 percent of their business performance targets in 2021 compared with just 23 percent the previous year, at the beginning of the coronavirus pandemic. Ford said executives exceeded cash flow, pretax earnings and quality targets, although they achieved none of their revenue goals.