Smith earned practically $1 million in base wage, nearly $3.6 million in non-equity incentive plan pay, and about $18.8 million in inventory awards throughout fiscal 2022, Microsoft stated in an annual proxy statement. Smith’s complete compensation was a rise from the $20.5 million he obtained in 2021 and $16.7 million in 2020.
Microsoft in its proxy credited Smith for preventing disinformation and international cyber affect amid the response to the warfare in Ukraine, and dealing on buyer privateness protections, artificial intelligence technology use guidelines, and efforts to reduce the corporate’s carbon footprint.
The pay disclosure final week got here as Microsoft reported a lackluster financial forecast amid a slump in US technology stocks.
Microsoft named Smith its chief legal officer in 2015. He previously served as firm’s common counsel since 2002, when Microsoft tapped him to succeed its first-ever authorized chief William Neukom.
Smith, a former Covington & Burling associate, has worked in-house at Microsoft since 1993. Smith initially led the corporate’s European authorized and company affairs staff earlier than turning into deputy common counsel for worldwide gross sales.
He’s bought practically $73.1 million in Microsoft inventory since 2020, securities filings present. Smith nonetheless owns $149 million in firm shares, in line with Bloomberg information.
Smith together with his wife, fellow lawyer Kathy-Surace Smith, donated $5 million to Columbia Legislation Faculty’s Human Rights Clinic in February. The endowment rebranded and expanded the Smith Household Human Rights Clinic, which trains students in human rights and social justice advocacy work.
Hires, Promotions
Microsoft has introduced on not less than a dozen in-house attorneys since mid-2021, in line with an evaluation by Bloomberg Legislation.
Among the many new authorized additions are former Davis Wright Tremaine litigation associate David Maas in Seattle, the place Microsoft employed him in Might as a principal company counsel for its competitors regulation group.
Amy Larsen, a former affiliate at Morrison & Foerster in New York, joined Microsoft in late 2021 as a director of technique and enterprise administration for the corporate’s democracy ahead initiative, which provides funding to teams that work on points comparable to marketing campaign finance reform and voting rights.
Microsoft has additionally been promoting internally. The corporate final week elevated lawyer Nanna-Louise Wildfang Linde to go of European authorities affairs.
Chris Sharrock has changed John Frank as vice chairman of United Nations affairs and worldwide organizations, a Microsoft spokesman confirmed. Sharrock arrived on the firm final 12 months after serving within the UK’s financial and finance ministry.
Frank had spent practically three many years in a variety of roles at Microsoft, together with as deputy general counsel and head of European Union authorities affairs. In april, Frank was named chief public affairs officer at biotechnology firm Illumina Inc.
Departures
Microsoft final 12 months reorganized its legal function to nominate two new co-general counsel—Hossein Nowbar and Lisa Tanzi—and meet international regulatory necessities.
Among the many adjustments was the exit of Microsoft’s former head of compliance, Matthew Penarczyk, who reunited with a former Microsoft colleague to grow to be the highest US lawyer for social media service TikTok Inc.
Additionally leaving was former Microsoft common counsel Deborah “Dev” Stahlkopf, who had a key role on the corporate’s gender and minority authorized variety program.
Stahlkopf left to grow to be the new top lawyer at Cisco Programs Inc., which disclosed final month a $13.3 million pay package it used to recruit her from Microsoft.
Microsoft additionally bid farewell final 12 months to veteran antitrust lawyer David Heiner Jr., who was employed as the highest authorized and coverage government at Truveta Inc., a well being care information startup led by a former Microsoft executive.
John Ghose, a former co-chair of Freeman Mathis & Gary’s nationwide information safety, privateness, and know-how observe, whom Microsoft employed final 12 months as a principal company counsel for enterprise and regulatory investigations, exited last month to grow to be a senior privateness counsel at cybersecurity consulting outfit VeraSafe LLC.
Investigation
The corporate’s proxy famous its retention earlier this 12 months of ArentFox Schiff, a newly merged authorized large, to review sexual harassment and gender discrimination insurance policies, in addition to a 2019 board inquiry into Microsoft co-founder Invoice Gates.
Microsoft stated that ArentFox Schiff has “labored diligently” to evaluate its practices and procedures, whereas reviewing inside paperwork, interviewing executives and staff, and “benchmarking in opposition to finest practices at different corporations.”
The Redmond, Wash.-based firm expects to publish a evaluate of the regulation agency’s findings by mid-November prematurely of Microsoft’s subsequent annual assembly.
