11:19 AM EDT, 10/25/2024 (MT Newswires) -- (Updates with additional details from filing in the third and final paragraph.)

Microsoft ( MSFT ) Chief Executive Satya Nadella's compensation in 2024 rose to $79.1 million, up by 63% from $48.5 million a year earlier, according to a Thursday filing.

The surge was largely due to the increase in Nadella's stock awards, which climbed to $71.2 million from $39.2 million a year earlier, the filing showed.

For Nadella's fiscal 2024 pay "70% was aligned to Microsoft's ( MSFT ) financial performance and 30% was aligned to operational performance," the filing said.

Nadella was eligible for a cash incentive of $10.7 million but will only receive $5.2 million after he proposed a reduction following multiple cybersecurity breaches reported during the fiscal year, according to the filing.

Nadella "asked the board to consider departing from the established performance metrics and reduce his cash incentive to reflect his personal accountability for the focus and speed required for the changes that today's cybersecurity threat landscape showed were necessary," the filing said.

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