Nadella had been in line for a $10.7 million cash incentive, but asked the board for less following several high-profile cybersecurity breaches in the period.
Nadella's stock award was worth $39 million for the previous year. Microsoft stock soared more than 30% in the 12 months to June, boosting its market value to north of $3 trillion.
Mr. Nadella agreed that the Company's performance was extremely strong, but reflecting on his personal commitment to security, asked the Board to reduce his cash incentive.
The stock has enjoyed a stellar run as investors wagered that Microsoft, an investor in ChatGPT maker OpenAI, would be a key beneficiary of the artificial intelligence boom.
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