ExxonMobil (NYSE:XOM) has awarded CEO Rex W. Tillerson a 6% raise, according to a regulatory document the company filed with the SEC. Effective Jan. 1, Tillerson will be paid $2.72 million in salary. He will also receive a bonus of just under $4.6 million and 225,000 shares of restricted stock in the company.
Tillerson is required to hold half of the restricted shares for a period of five years. The other half must be held for 10 years or until he retires, whichever occurs later.
Tillerson's salary was $2.57 million in 2012 and $2.39 million the previous year, according to SEC filings. That's a 7.5% increase from 2011 to 2012. Tillerson was granted bonuses of $4.37 million at the end of 2011 and $3.36 million at the end of 2010, according to the filings.
Eric Volkman has no positions in ExxonMobil. The Motley Fool owns shares of ExxonMobil. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.