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Ford share price puts a damper on former CEO's 2001 earnings
CHICAGO, April 9 AFP|Published: Wednesday April 10, 10:46 AM



Former Ford Motor Company chief executive officer, Australian Jacques Nasser, earned $US17.8 million ($A34.07 million) in compensation in 2001, according to a filing the automaker made with the Securities and Exchange Commission today.

But while the dapper Lebanese-born Nasser, who was ousted in a boardroom coup last October, walked away with $US4.9 million ($A9.38 million) of that in cash, the rest remains tied up in stock options.

Nasser will only be able to cash those shares in once the company's share price reaches a so-called strike price of $US30.19 ($A57.78) - almost twice its current market valuation.

"It's contingent on our stock appreciating significantly ... somewhere in the range of 250 per cent," said Ford spokesman David Reuter.

Ford shares closed down eight cents on the day at $US15.03 ($A28.77) per share, slightly above its 52-week low of $US13.90 ($A26.60).

Nasser has until March 8, 2011 to exercise his stock options, according to the SEC filing.


Many thanks to Falchoon for this article