Microsoft gave Christopher Young, the company's new head of business development and former McAfee CEO, stock awards worth more than $22 million today, according to securities filings late Friday afternoon.
The company issued 101,940 shares of common stock. Microsoft stock closed at $216.51 per share on Friday, meaning the shares are worth $22,071,029 at current trading values.
A total of 17,318 shares (worth about $3.75 million at the time of publication) are part of the company's executive incentive plan and will vest over four years while 83,122 (worth about $18 million at the time of publication) comprise a separate stock award that also vests over four years.
Microsoft has yet to file further information about Young's compensation, but his predecessor Peggy Johnson was consistently among the company's highest-paid executives. Johnson collected more than $9.5 million in 2020 before leaving to become the CEO of Magic Leap, filings show.
Microsoft on Wednesday announced the company hired Young to take over for Johnson, who will report directly to Microsoft CEO Satya Nadella. Young was CEO of cybersecurity company McAfee until February. In announcing Young's hiring, Microsoft pointed to his experience spinning McAfee out of Intel and previous leadership positions at Cisco, VMware, RSA and AOL.
"I've known Chris for many years and have admired his accomplishments as a leader. His experience and skills are an invaluable addition to our company and the senior leadership team," Nadella said in a statement this week.
"We know that for our customers and partners, the next decade of economic growth will be defined by the digital investments made today. With Chris' leadership, the business development team will continue to be a key accelerant for our partnerships and new growth opportunities."
Young takes over business development at Microsoft at a time when the company is looking to make big deals. Microsoft tried to acquire video app TikTok, though the bid ultimately failed, and recently announced plans to pay $7.5 billion for video game publisher Bethesda.
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