NEW YORK (MarketWatch) — Procter & Gamble Co. PG +0.06% Chief Executive Robert McDonald received $16.2 million in total compensation in fiscal 2011, up nearly 24% from the prior year on higher stock and option awards.
McDonald took home a $1.6 million salary in fiscal 2011, up from $1.4 million the prior year, and his bonus dropped slightly to $2.6 million, according to a Friday filing with the Securities and Exchange Commission. His stock awards rose 86% to $5.6 million and his option awards rose 10% to $6.2 million.
P&G said the reported increase in total compensation is due to SEC reporting rules for long-term equity compensation. Paul Fox, a P&G spokesman, said under those rules, McDonald’s reported compensation for fiscal 2010 did not include about $2.5 million in long-term incentives. With that factored in, McDonald’s total compensation rose a more modest 3.8% from $15.6 million a year earlier.