But I guess it will all "trickle down"?
H-P's Meg Whitman Receives $15.4 Million—Proxy Filing
By BEN WORTHEN
In Meg Whitman's first full year on the job as Hewlett-Packard Co. HPQ -2.48% chief executive, she received compensation valued at $15.4 million, according to H-P's proxy filing Friday.
For H-P's 2012 fiscal year, which ended Oct. 31, Ms. Whitman's compensation was largely in the form of stock awards and options, as her base salary was $1. Her bonus of $1.7 million was less than her target of $2.4 million.
Ms. Whitman took over as H-P CEO in September 2011, and has tried to turn around the struggling company. Among other things, she reversed her predecessor's decision to spin out H-P's PC division and is cutting about 29,000 jobs.
Hewlett-Packard CEO Meg Whitman, seen at a conference last summer.
Some top H-P executives saw their total compensation fall in 2012 as the company fell short of targets amid declining revenue and profits.
In its proxy, H-P also sponsored a proposal that would give large shareholders the right to nominate directors, a widely expected move that is a big victory for activists.
The Palo Alto, Calif., technology company last year agreed to put the proposal on its annual proxy statement as part of an agreement with Amalgamated Bank's LongView Fund, which owned about 400,000 H-P shares at the time of the February 2012 deal.
Amalgamated Bank had planned to bring the measure up at H-P's 2012 meeting but a spokesman said last year that it would instead allow H-P to submit the proposal itself this year.
If the measure is approved at H-P annual meeting to be held March 20, shareholders who own 3% or more of the company for at least three years will be allowed to nominate directors.
H-P's board has come under scrutiny in recent years for spying on reporters, forcing out several chief executives, and the ill-fated acquisition of software maker Autonomy, which H-P later accused of accounting irregularities. Autonomy's former chief has denied the allegations.
An H-P spokesman had no comment on the filing.