NEW YORK (Reuters) - GMAC LLC on Friday said Chief Executive Alvaro de Molina was awarded $11.62 million of compensation in 2008, more than twice as much as a year earlier, when he engineered debt restructurings and capital raising to keep the struggling finance company in business.
De Molina was awarded a $1.2 million salary, $5.81 million of stock awards and $4.8 million of other compensation, offset by option awards of negative $194,000, reflecting the application of an accounting standard.
The company reported de Molina's compensation in a summary compensation table included in its annual report filed with the U.S. Securities and Exchange Commission.
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Good luck with GMAC CEO trying to ask Treasury for more bailout money.
1 comment:
Just ask for more bailout money as taxpayers really don't need it as was said by the GOP and Gov. Jindal.
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