Yahoo CEO Marissa Mayer Earned $27.4 Million Last Year

By Deepa Seetharaman Features Dow Jones Newswires

Yahoo Inc. Chief Executive Marissa Mayer's compensation totaled $27.4 million last year, a package mostly unaffected by a deal to sell Yahoo's core business to Verizon Communications Inc. or two large security breaches that nearly scuttled the acquisition.

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Ms. Mayer's base salary was $1 million, unchanged from the previous two years, according to a filing Friday with the Securities and Exchange Commission.

The bulk of her 2016 compensation comes in the form of stock awards valued at $11.3 million and options awards valued at $13.3 million, according to the filing.

Those awards are already part of the more than $187 million she stands to make from stock options, restricted-stock units, and other equity-based awards if she leaves after Yahoo's core business is sold to Verizon for $4.5 billion. The value of her payout has increased as Yahoo shares have tripled since her arrival in 2012.

Ms. Mayer hasn't said whether or not she'll join Verizon after the sale is completed, but few expect her to stick around.

Ms. Mayer landed her big pay package despite a 14% decline in Yahoo's revenue last year, excluding commissions paid to partners for web traffic. The Verizon sale was announced last summer, four years after she was hired as Yahoo's CEO to revive the faded brand, which hadn't adapted to a new generation of internet users.

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Instead, she cut the deal to sell to Verizon. As part of their severance package, Ms. Mayer and other top Yahoo executives are eligible for accelerated vesting of all stock options, restricted-stock units, and other equity-based awards outstanding when the deal closes, according to a separate proxy filing published Monday.

Write to Deepa Seetharaman at Deepa.Seetharaman@wsj.com

(END) Dow Jones Newswires

April 28, 2017 17:51 ET (21:51 GMT)