GE Chief Jeffrey Immelt Receives Compensation Worth $21.58 Million in 2011

General Electric Co. chairman and CEO Jeffrey Immelt received a total compensation of $21.58 million for 2011. This includes salary, bonus, deferred stock and pension value increase.

According to the U.S. regulatory filing, his salary for 2011 was $3.3 million, which was same in 2010 and he also had a cash bonus of $4 million. In addition, he will receive 250,000 performance stock units.

In 2008 and 2009, he had declined to accept bonus following the underperformance of the shares of GE.

His pension value saw an increase of $10.25 million, according to the filing with the Securities and Exchange Commission. Excluding the rise in value of pension, the compensation of Immelt is nearly 25 percent down in 2011 at $11.4 million.

The net income of GE rose by 22 percent in 2011 to $14.15 billion compared with $11.64 billion for 2010.