The automaker paid the stock as a part of its incentive plan for the company’s 2009 performance. The iconic brand earned about $29.5 billion during last three years, after suffering huge losses amounting to nearly $30.1 billion from the period 2006-08.

Though the company’s move of withholding some of the awarded stocks to cover up for Mulally’s taxes is questioned, Mulally would still enjoy a whooping $34.5 million after deducted taxes. The new reward would not surprise many as Ford has paid him stocks worth more than $100 million for the past two years.

Mulally's compensation has been termed by some as "morally wrong,” especially at a time when ground level workers are being paid about less than $15 an hour.

It would be wrong to criticize the reward as Mulally delivered peak performance, helping reach targets when the auto sales market fell to their lowest in last three decades.