Smith earned nearly $1 million in base salary, nearly $3.6 million in non-stock incentive plan compensation and about $18.8 million in stock in fiscal 2022, said Microsoft in an annual proxy statement. Smith’s total compensation was an increase from the $20.5 million he received in 2021 and $16.7 million in 2020.
Microsoft in its proxy credited Smith for fighting misinformation and foreign cyber influence as part of the Ukraine war response, and working on customer privacy, technology use rules artificial intelligence and efforts to reduce the company’s carbon footprint.
The salary disclosure last week came as Microsoft announced lackluster financial guidance amid a slump in US tech stocks.
Microsoft named Smith its chief legal officer in 2015. He had previously served as the company’s general counsel since 2002, when Microsoft hired him to succeed its first-ever chief legal officer, William Neukom.
Smith, a former Covington & Burling partner, has worked in-house at Microsoft since 1993. Smith first led the company’s European legal and corporate affairs team before becoming associate legal counsel for global sales.
He has sold nearly $73.1 million worth of Microsoft stock since 2020, according to securities filings. Smith still owns $149 million in the company’s stock, according to Bloomberg data.
Smith and his wife, fellow attorney Kathy-Surace Smith, donated $5 million to the Columbia Law School Human Rights Clinic in February. The endowment renamed and expanded the Smith Family Human Rights Clinic, which trains students in human rights and social justice work.
Microsoft has hired at least a dozen in-house attorneys since mid-2021, according to analysis by Bloomberg Law.
Among the new legal additions are former Davis Wright Tremaine litigation partner David Maas in Seattle, where Microsoft hired him in May as senior counsel for its antitrust group.
Amy Larsen, a former partner at Morrison & Foerster in New York, joined Microsoft in late 2021 as director of strategy and business management for the company’s Democracy Initiative, which provides funding to groups that work on issues such as campaign finance reform and voting. rights.
Microsoft also promoted internally. The company last week appointed lawyer Nanna-Louise Wildfang Linde as head of European government affairs.
Chris Sharrock has replaced John Frank as vice president of United Nations and international organizations affairs, a Microsoft spokesperson confirmed. Sharrock came to the company last year after working in the UK Department for Economics and Finance.
Frank had spent nearly three decades in a variety of roles at Microsoft, including as Deputy General Counsel and Head of European Union Government Affairs. In April, Frank was named director of public affairs at biotech company Illumina Inc.
Last year, Microsoft revamped its legal function to appoint two new co-general counsel — Hossein Nowbar and Lisa Tanzi — and meet global regulatory requirements.
Among the changes was the departure of former Microsoft compliance chief Matthew Penarczyk, who reunited with a former Microsoft colleague to become America’s top lawyer at social media service TikTok Inc.
Deborah “Dev” Stahlkopf, a former Microsoft general counsel who played a key role in the company’s gender and minority legal diversity program, also left.
Stahlkopf left to become the new top lawyer for Cisco Systems Inc., which last month disclosed a $13.3 million salary package used to recruit her to Microsoft.
Microsoft also said goodbye last year to veteran antitrust attorney David Heiner Jr., who was hired as a senior legal and policy executive at Truveta Inc., a health care data startup led by a former Microsoft executive.
John Ghose, former co-chairman of the national data security, privacy and technology practice of Freeman Mathis & Gary, which Microsoft hired last year as lead corporate counsel for trade and regulatory investigations , left last month to become senior privacy advisor at cybersecurity. consulting firm VeraSafe LLC.
The company’s attorney noted that it had earlier this year retained ArentFox Schiff, a newly merged legal giant, to review sexual harassment and gender discrimination policies, as well as a 2019 board investigation into Microsoft co-founder Bill Gates.
Microsoft said ArentFox Schiff had “worked diligently” to assess its practices and procedures, while reviewing internal documents, interviewing executives and employees, and “benchmarking itself against best practices at other companies.”
The Redmond, Washington-based company plans to release a review of the law firm’s findings by mid-November ahead of Microsoft’s next annual meeting.