* Buffett's compensation totals $389,488

* First buybacks since May 2024

* Board supports say-on-pay, opposes workforce oversight

proposal

(Recasts first paragraph; adds executive compensation, share

buybacks, Abel comments, shareholder proposals, byline)

By Jonathan Stempel

March 13 (Reuters) - Berkshire Hathaway ( BRK/A ) said on

Friday it awarded Chief Executive Greg Abel $22 million in

compensation last year as he prepared to take over from Warren

Buffett, and recently spent more than $200 million repurchasing

its own stock after going nearly two years without buybacks.

Abel's pay and the buybacks were disclosed in a proxy

statement for Berkshire's May 2 annual meeting in Omaha,

Nebraska.

The 63-year-old Abel succeeded Buffett as chief executive on

January 1 following eight years as a vice chairman. Berkshire's

other vice chairman, Ajit Jain, 74, was also awarded $22

million. Abel's salary is $25 million in 2026.

Buffett, 95, led Berkshire for six decades and remains

chairman.

He received compensation of $389,488 in 2025, comprising his

usual $100,000 salary plus personal and home security. Buffett

spends significant time working at home but still goes daily to

the office about two miles away, Berkshire has said.

INTRINSIC VALUE IS A FACTOR IN BUYBACKS

Berkshire said the number of shares outstanding fell by the

equivalent of 309 Class A shares in the quarter ending March 4.

Abel told CNBC last week that buybacks resumed that day, and had

been Berkshire's first since May 2024.

Some analysts and investors believe Berkshire has been too

cautious investing capital. Its more than $373 billion year-end

stake in cash and equivalents comprises more than one-third of

Berkshire's approximately $1.06 trillion market value.

Berkshire's portfolio includes dozens of businesses including

Geico car insurance, the BNSF railroad, and many industrial,

manufacturing and retail operations, as well as nearly $300

billion of stocks at year end.

Abel said Berkshire conducts buybacks when the intrinsic value

of its shares exceeds the market price, and that "with the

transition of leadership" it was important to announce that

buybacks ​had resumed.

Berkshire will likely disclose on May 2 if it repurchased more

stock in the first quarter.

BERKSHIRE BACKS SAY-ON-PAY, OPPOSES PROPOSAL ON WORKFORCE

OVERSIGHT

In its proxy statement, Berkshire's board of directors also

recommended that shareholders approve proposals giving them an

advisory "say-on-pay" for how Berkshire compensates top

executives, and similar votes every three years.

The board also unanimously urged the rejection of a shareholder

proposal that it produce a report on its oversight of workforce

and human-capital management across its operating businesses.

Citing Berkshire's culture and decentralized structure, the

board said Berkshire operating units should manage their own

affairs, making the report unnecessary.

Buffett owns 13.7% of Berkshire's stock but controls 30.2% of

its voting power. Shareholders face an uphill fight winning

majority support for proposals he opposes.