International Business Machine Corp (NYSE: IBM) Chief Executive Virginia Rometty was reportedly paid $13.97 million U.S. in 2013, down from $16.2 million U.S. she took home in 2012, according to documents filed with the Securities and Exchange Commission on Monday.
Rometty's base pay was unchanged at $1.5 million U.S., but a cash bonus under IBM's annual performance-based incentive program was cut to zero from $3.9 million U.S. last year, due to a decline in revenue and related cash flow in 2013.
In explaining the move the company said "in view of overall results, Mrs. Rometty and her senior team recommended forgoing their annual incentive payout for 2013."
The company known as "Big Blue", which sold its low-end server business in January, recorded a 4.6% decline in revenue in 2013.
IBM stock opened Tuesday trading at $186.95 U.S., up 56 cents from Monday’s close, within a 52-week range from $172.19 U.S. to $215.90 U.S.
