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BRIEF-Ford approves James Hackett's annualized base salary increase from $716,000 to $1.8 mln
May 24, 2017 / 6:13 PM / 7 months ago

BRIEF-Ford approves James Hackett's annualized base salary increase from $716,000 to $1.8 mln

May 24 (Reuters) - Ford Motor Co:

* Ford Motor Co says annualized base salary increase from $716,000 to $1,800,000 for James P. Hackett

* Ford says annual incentive compensation plan 2017 target increase from 100 pct of base salary to 200 pct of base salary for James Hackett - SEC filing

* Says compensation committee approved an accession bonus of $1 million for James P. Hackett

* Hackett’s performance-based restricted stock unit grant valued at $5,250,000

* Approved time-based RSU grant valued at $1.8 million that generally will vest 33 pct on May 22, 2018, 33 pct on May 22, 2019, 34 pct on May 22, 2020 for Hackett

* Outgoing CEO Mark Fields eligible for annual incentive compensation plan bonus pro-rated for period of January 1 to August 1

* Outgoing CEO Fields reasonable use of company aircraft until August 1, 2017

* Approved retention of 2017 long-term incentive plan grants of time-based RSU, performance-based RSU with 3-year performance period for Mark Fields Source text (bit.ly/2rhMsGh) Further company coverage:

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