Hewlett-Packard (NYSE:HPQ) has awarded a $16.5 million pay package to its CEO.

Hewlett-Packard (NYSE:HPQ) Gives CEO $16.5m

Hewlett-Packard (NYSE:HPQ) announced that it awarded its chief executive officer Meg Whitman with $16.5 million in compensation during 2011.

The company awarded 1.9 million stock options valued at $16.1 million, salary of $1 and additional compensation of $372,000 to Whitman.

If Hewlett-Packard (NYSE:HPQ)’s market value rises substantially, Whitman will get the opportunity to cash in most of the options.

The company awarded its former CEO Leo Apotheker with compensation of $26.7 million and $3.7 million in stock incentives in the same period.

Hewlett-Packard Co. (NYSE:HPQ) shares are currently standing at 29.07.

Price History
Last Price: 29.07
52 Week Low / High: 21.5 / 49.39
50 Day Moving Average: 27
6 Month Price Change %: -10.9%
12 Month Price Change %: -38.6%