Yahoo CEO Mayer's Compensation Falls

Yahoo Inc. Chief Executive Marissa Mayer received $26.9 million in compensation last year, down from $36.6 million in 2012, according to a regulatory filing by the company Wednesday.

While her base salary more than doubled to $1 million, her stock awards fell to $8.3 million from $35 million in 2012.

The company separately announced the nomination of three new board members, which shareholders will vote on at the company's annual meeting in June. The nominations include Yahoo co-founder David Filo, Charles Schwab Corp. Chairman Charles R. Schwab, and former Wal-Mart Stores Inc. Chief Executive H. Lee Scott Jr.

The addition of the trio of nominees "adds significant depth and breadth of experience to the Yahoo boards," said Ms. Mayer.

Meanwhile, Wednesday's filing comes a day after the company reported that it was growing for the first time in more than a year. Yahoo on Tuesday reported its revenue, minus commissions paid to partners for Web traffic, rose 1% in the first quarter after four straight quarters without growth. Meanwhile, revenue from display ads, excluding the traffic costs, increased 2% to $409 million.

Yahoo's growth, however small, is a positive mark for Ms. Mayer, who has faced scrutiny over her inability to jump-start the company's ad revenue. Since taking over as CEO nearly two years ago, Ms. Mayer has updated popular sites such as Flickr and Yahoo Finance, created splashy online magazines and slick mobile apps, and acquired dozens of small startups to inject talent into the aging Internet giant.

On Wednesday, Yahoo reported that total compensation for Chief Financial Officer Ken Goldman also declined, also primarily due to lower stock awards. Mr. Goldman received about $6 million in total compensation last year, compared to $7.5 million in 2012.

Write to Anna Prior at [e-mail]

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