Sundar PichaiSundar Pichai earned $164M in 2023

Ajay Banga is the former President and CEO of Mastercard, where he played a central role in its growth. Under his leadership, the company transformed into a leader in digital payments, processing over $9 trillion in volume in 2023 alone....

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Ajay Banga

Ex-CEO of Mastercard

Education

MBA from the Wharton School of the University of Pennsylvania; Bachelor's degree in Economics from St. Stephen's College, Delhi

Field of Expertise

Business & Management

Sector of Economy

Financial Services

Born

November 10, 1959 - 65 years ago

CEO of Mastercard for

10 years 5 months (Jul 2010 - Dec 2020)

Previous Experience

President & Chief Operating Officer at Mastercard

Holdings

See how much did Ajay Banga make over time.

Ajay Banga has consistently held a significant stake in Mastercard throughout his career. As of early 2024, his ownership in Mastercard was valued at over $67 million. This number reflects his long-term investment in the company he helped lead. His...

Total Stock Sold

$309.55M

MA

$309.55M

1,779,582 MA shares

What if they kept their stock?

If Ajay Banga didn't sell their stock, today they would have:
Extra MA1,779,582 shares worth $495.56M.
This is 60.09% and $186.01M more than what they got when they sold the stock.

Charitable Transactions

MA

132,894 shares

MA

Recent Charitable Transactions

MA

2,854 shares

MA

Sep 1, 2021

Charity

MA

20,885 shares

MA

May 13, 2021

Charity

MA

14,700 shares

MA

Dec 14, 2020

Charity

MA

15,000 shares

MA

Dec 2, 2020

Charity

MA

33,300 shares

MA

Sep 1, 2020

Charity

MA

12,113 shares

MA

Aug 26, 2019

Charity

Insider Trading

See recent insider trades of Ajay Banga.

MA

2,854 shares

MA

Sep 1, 2021

Charity

MA

2,854 shares

MA

Sep 1, 2021

Charity

MA

$23.44M

MA at $390.70/share

Jul 14, 2021

Sale

MA

20,885 shares

MA

May 13, 2021

Charity

MA

18,142 shares

MA

May 13, 2021

Charity

MA

$49.43M

MA at $380.23/share

Apr 30, 2021

Sale

MA

22,461 shares

MA

Feb 28, 2021

Received

MA

14,700 shares

MA

Dec 14, 2020

Charity

MA

15,000 shares

MA

Dec 2, 2020

Charity

MA

15,000 shares

MA

Dec 2, 2020

Charity

Compensation History

See how much did Ajay Banga make over time.

Throughout his career at Mastercard, Ajay Banga received substantial compensation, peaking at nearly $28 million in 2020. This figure included a base salary of $1.25 million, a substantial bonus of $3.125 million, and a significant amount of vested stock worth approximately $27.9 million. His compensation was largely tied to performance metrics like net income and revenue, meaning it reflected Mastercard's overall success during his leadership. Banga's pay structure aimed to align his interests closely with shareholders. Before 2020, in 2019, his total compensation was about $23.2 million, underscoring the company's strong performance. Even after stepping down as CEO, he continued to receive a salary as Executive Chairman, maintaining his connection to the company's ongoing success.

Year

2020

Total Compensation

$32.50M

Salary

$1.25M

Board Justification

The compensation philosophy is designed to align executive compensation with performance, attract and retain top talent, and ensure that a significant portion of compensation is performance-based.

Bonus

$3.13M

Board Justification

The annual incentive bonus for 2020 was capped at 100% of target due to the impact of COVID-19 on financial performance, resulting in a payout of $3,125,000.

Other

$210.33K

Board Justification

Other compensation includes perquisites and company contributions to defined contribution plans.

Restricted Stock

$27.92M(99.61K RSU)

Board Justification

The value of stock awards that vested in 2020 includes 99,010 shares of RSUs and PSUs, which were settled based on the average of the high and low market price per share of Class A common stock on the NYSE on the respective vesting date.

Performance Metrics

The performance metrics for determining the CEO's compensation included adjusted net income and adjusted net revenue, with adjustments made for the impact of COVID-19.

Other Mastercard CEOs

Here are other CEOs of Mastercard