Hewlett Packard values Meg Whitman's compensation at $19.6 million, up 11%

Gary Strauss | USA TODAY

Hewlett Packard CEO Meg Whitman's salary went up from $1 a year to $1.5 million in 2014, part of an overall compensation package valued at $19.6 million, the tech giant said Monday.

Whitman's compensation package, up 11% over the $17.6 million in 2013 compensation, included a stock award valued at $8.1 million, stock options worth $5.3 million, a $4.3 million incentive award and $295,400 in perks, including $251,000 for personal use of private aircraft.

Whitman, 58, has been CEO since September 2011, and worked for a nominal $1 salary while engineering a corporate turnaround. The company decided a $1.5 million salary was appropriate last year "considering the stage of our turnaround,'' according the HP's annual proxy, filed Monday.

Whitman gained another $12.5 million from previously awarded shares that vested in 2014.

Total shareholder return rose 50% during the fiscal year ended Oct. 31.

Hewlett Packard is set to split into two companies later this year, Hewlett Packard Enterprise, a computing and computer networking firm headed by Whitman, and HP Inc., its personal computer and printing divisions.

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