April 25, 2008 / 7:45 PM / 12 years ago

GM CEO's compensation jumps 64 percent in 2007

DETROIT, April 25 (Reuters) - General Motors Corp (GM.N) Chief Executive Rick Wagoner’s salary and other compensation rose 64 percent in 2007 to about $15.7 million, mainly due to option grants, according to a proxy filed on Friday.

Wagoner’s compensation rose from about $9.57 million in 2006. The figure was arrived at based on Wagoner’s salary, all other compensation and the basis of annual grants.

GM paid Wagoner a salary of $1.6 million in 2007, along with $1.8 million in non-equity incentive compensation and nearly $700,000 for other compensation that includes insurance benefits, security, aircraft expenses and other factors.

GM, which reported a record $39 billion net loss in 2007, released the figures in a proxy statement on Friday afternoon that was filed with the U.S. Securities and Exchange Commission. (Reporting by David Bailey; Editing by Andre Grenon)

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