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Immelt’s Pay Falls 35% to $21.3 Million

  • Shares trailed the S&P 500 in 2016 after tilt to manufacturing
  • Immelt said compensation plans paid out at 80% of target
Updated on

General Electric Co. Chief Executive Officer Jeffrey Immelt’s compensation fell 35 percent to $21.3 million last year, as an oil and gas slump suppressed demand for industrial equipment and the company’s shares underperformed the market.

Immelt, 61, received a $3.8 million salary last year, unchanged from 2015, according to a proxy statement from the Boston-based company Wednesday. His $5.94 million in cash awards, $2.14 million in stock options and $4.67 million in restricted and performance-linked shares were all down from the prior year.