FAIRFIELD, Conn. (AP) — General Electric CEO Jeffrey Immelt's compensation fell 7 percent last year to $19.2 million primarily because of a change in the way that the company pays some of its bonuses.
General Electric Co. paid Immelt a lump sum of $12.1 million in 2012 as an award for three years of work. In a Wednesday regulatory filing, GE said that Immelt got a $2.4 million installment for the results produced during the first year of a new three-year rating period.
The Associated Press' calculation of executive compensation includes counts salary, bonuses, perks and stock and options awarded to the executive during the year.
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