Ford CEO Jim Farley's total compensation fell slightly in 2022 to $20,996,146, according to the company's annual proxy statement.
Compensation for four of Ford's top five named executives dipped from the prior year, largely because they received fewer incentives. Doug Field, Ford's chief advanced product development and technology officer, was the lone named executive whose compensation rose.
Farley's base salary remained unchanged at $1.7 million, while his stock awards and non-equity incentives dipped slightly. The company said his 2022 compensation amounted to 281 times the median total compensation of all Ford employees.
Farley earned $22.8 million in 2021.
The results follow a year of "frustrating" financial and operating results at the automaker. Ford posted adjusted earnings before interest and taxes of $10.4 billion dollars last year and a $2 billion net loss.