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SOURCE Ford Motor Company
DEARBORN, Mich., March 15, 2013 /PRNewswire/ -- Ford Motor Company [NYSE: F] today filed with the U.S. Securities and Exchange Commission its preliminary proxy statement for the 2013 Annual Meeting of Shareholders.
The proxy announces details about the company's Annual Meeting, which is scheduled for
8:30 a.m. EDT Thursday, May 9 at the Hotel du Pont, 11th and Market Streets, Wilmington, Del.
Included in the proxy are six company and two shareholder proposals requiring the votes
of shareholders. In addition, details of compensation for the Named Executive Officers are outlined.
"We believe our 2012 performance clearly shows our management team performed exceedingly well in a difficult environment," the company said in its proxy statement.
Ford continued on its road to sustained profitability in 2012 by delivering results. The company reported:
Ford also delivered on its growth strategy in 2012, as it:
Additionally, Ford's credit rating was returned to investment grade by the second of three major credit agencies in May, allowing for the return of the company's pledged assets, including the Blue Oval. The Ford Motor Company Board of Directors also reinstated a dividend in 2012 and doubled the dividend during the first quarter of 2013, providing a direct financial return to investors.
Because of Ford's performance during 2012, the Compensation Committee of the Ford Board of Directors approved payments for salaried employees under the company's Annual Incentive Compensation Plan (AICP). The proxy provides specific details of total 2012 compensation for six Named Executive Officers. (Note: The SEC requires companies to list chief financial officers among the five Named Executive Officers in proxy statements. Ford listed six NEOs in its 2013 proxy as Lewis Booth retired and Bob Shanks became chief financial officer, both effective April 1, 2012.)
The amounts shown in the proxy statement for stock and option awards represent the grant date value of the awards under applicable accounting rules – not actual compensation received by each Named Executive Officer.
Total 2012 compensation for Ford's five current Named Executive Officers and its retired chief financial officer is:
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 171,000 employees and about 65 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com.
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