GM CEO Mary Barra’s 2022 pay worth $29M

Mary Barra’s total compensation in nine years as CEO of General Motors has surpassed $200 million.

Barra received a pay package worth just less than $29 million in 2022, according to a filing with the Securities and Exchange Commission on Friday. That made her the highest-paid Detroit 3 CEO for an eighth consecutive year.

Barra, 61, earned 0.5 percent less last year than she did in 2021. Her salary was unchanged at $2.1 million, option awards increased 24 percent to $4.9 million and nonequity incentive compensation declined 18 percent to $6.3 million. Stock awards, which account for the majority of Barra’s compensation, increased 0.3 percent to $14.6 million.

In determining her pay, GM’s board of directors noted that the company achieved records for adjusting pretax earnings, global revenue and profit-sharing for hourly workers, according to the filing.

Barra’s compensation topped the $25.6 million that Stellantis shareholders approved for CEO Carlos Tavares this month and the $21 million earned by Ford Motor Co. CEO Jim Farley. Barra is the only one of the three who also serves as chairman.

GM said President Mark Reuss received compensation worth $14.4 million in 2022, up 14 percent from the prior year. CFO Paul Jacobson’s compensation was worth $10.2 million, a 6.9 percent increase.

Doug Parks, who heads product development, purchasing and supply chain, and North America President Steve Carlisle each received $8.8 million, down slightly from 2021.