GM paid $11.1m to CEO Akerson in 2012

General Motors Co gave Chief Executive Dan Akerson an USD 11.1 million pay package last year, a GM official familiar with the matter said on Wednesday, after the CEO's salary came under scrutiny this week.

The figure reflects USD 2 million in restricted stock units that Akerson received in 2011, but only vested in 2012, according to the GM official, who requested anonymity.
Akerson's compensation last year also includes USD 1.7 million in cash, USD 7.3 million in stock and other incentives.
Several media outlets reported late Monday that GM asked US officials to allow for a pay increase of more than 20 percent for Akerson in 2013.
Compensation of GM executives is governed by a special paymaster from the US government as part of provisions put in place after GM's US-funded bankruptcy restructuring in 2009.
GM issued a statement on Tuesday denying the request for the 2013 pay bump. The US automaker said its compensation request was misinterpreted for political gain before a congressional hearing Tuesday on executive pay at companies that received federal bailouts.
The USD 11.1 million figure was included in GM's compensation request, but it referred to Akerson's 2012 pay package and was not a request for 2013, the GM official said.
The largest US automaker has set a USD 9 million target for Akerson's compensation. In 2011, Akerson's pay came to USD 7.7 million, including USD 1.7 million cash and USD 5.3 million in stock.
GM has repaid about USD 29 billion of the USD 50 billion that the US government poured into GM to keep the automaker afloat in 2009. In December, Treasury said it would sell 200 million shares back to GM for USD 5.5 billion and sell its remaining holdings.
After the USD 5.5 billion buy back, the US Treasury's holding in GM was whittled down to 19 percent.