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MicroStrategy CEO Reduces Pay To $1 From $875,000 Following Criticism Of Stewardship

9 September, 2014

MicroStrategy CEO Reduces Pay To $1 From $875,000 Following Criticism Of Stewardship

MicroStrategy chairman and chief executive Michael Saylor reduced his annual salary from $875,000 to $1 and eliminated his annual cash bonus, the most recent in a series of management moves following criticism of his stewardship by several large investors.

The company said the change in compensation comes on the heels of recent restructuring ­efforts.

“Mr. Saylor believes that it is appropriate to reduce his compensation in light of the Company’s cost reduction initiatives,” Claudia Cahill, MicroStrategy’s director of public relations, said in a statement.

The changes, which will be effective Sept. 1, were outlined in a filing Tysons Corner-based MicroStrategy made Monday with the U.S. Securities and Exchange Commission.

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