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GM gives stock worth $1.3M

DETROIT — General Motors handed out stock shares worth more than $1.3 million to its current and former chief executives in the third quarter under terms of their pay packages.

The automaker said Monday in filings with the U.S. Securities and Exchange Commission that former CEO Ed Whitacre got more than 16,300 shares worth over $883,000 on Sept. 30. Current CEO Daniel Akerson received nearly 8,200 shares worth over $441,000.

GM has said that Akerson will get a $9 million pay package. That includes $1.7 million per year in pay, $5.3 million in short-term stock payable over three years, and $2 million in long-term stock.

Whitacre will receive $6.4 million in stock and salary for his eight months as CEO. That includes $1.1 million in pay and $5.3 million in short-term stock compensation.

GM is 61 percent owned by the U.S. government.

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