FILE - In this July 11, 2012 file photo, Netflix CEO Reed Hastings attends the Allen & Company Sun Valley Conference in Sun Valley, Idaho. Netflix Inc. is facing scrutiny from government regulators for a Facebook post by Hastings in July that may have boosted the online video company’s stock price. Neflix said Thursday, Dec. 6, 2012, that the Securities and Exchange Commission informed it that its staff is recommending civil action be brought against the company and Hastings. The reason: Hastings’ July 3 post in which he said Netflix’s online video viewing “exceeded 1 billion hours for the first time ever in June.” (AP Photo/Paul Sakuma, File)
PepsiCo CEO's pay down amid compensation change
Published: 10:32:57 PM, Fri 22 March 2013 UTC
NEW YORK (AP) — PepsiCo gave CEO Indra Nooyi a pay package worth $12.6 million last year, down 11 percent from the previous year, as the soda-and-snack food giant changed the way it awards long-term incentive compensation.
The Purchase, N.Y.-based company did away with outright option awards last year and instead gave Nooyi a long-term incentive award tied to the performance of the company's future stock price and other metrics. That figure is not included in the pay summary filed with the Securities and Exchange Commission.
For the year, Nooyi's earned a base salary of $1.6 million and incentive pay of $3.3 million, as PepsiCo said it met its financial goals during a year of restructuring.
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
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