News has come out that Meg Whitman’s salary of just one dollar per year to be the chief executive of the popular technological company Hewlett-Packard is not exactly totally factual.
While Whitman is in fact getting only one dollar in official salary this year, she is also getting a very nice perk in stock options. Two million shares worth of stock options in fact.
The stocks are worth just under 45 million dollars. Whitman cannot have access to the cash in full just yet. About 900,000 of the shares are not allowed to be cashed out for at least a year.
And to be fair to Whitman, she must lead Hewlett-Packard to certain amount of growth in order to be able to cash her options. If the company does not make the progressions that are expected of them, then she will really only make that one dollar.
Whitman has taken over the duties of former CEO Leo Apotheker who did walk away from the company with millions in severance pay, bonus cash, and stock options.