Cisco recently filed Securities and Exchange Commission (SEC) documents specifying the compensation of its top executives.

According to the documents, these executives were compensated the following amounts for fiscal 2018:

CEO Chuck Robbins

  • Total Compensation (approx.): $21.28 million
  • Base Salary: $1.32 million
  • Stock Awards: $14.69 million
  • Annual Incentive Plan: $4.99 million
  • Other: $99,940

CIO Kelly A. Kramer

  • Total Compensation (approx.): $11.44 million
  • Base Salary: $850,000
  • Stock Awards: $8.59 million
  • Annual Incentive Plan: $1.85 million
  • Other: $57,109

David Goeckeler, EVP and General Manager, Networking and Security Business

  • Total Compensation (approx.): $11.09 million
  • Base Salary: $825,000
  • Stock Awards: $9.84 million
  • Annual Incentive Plan: $1.82 million
  • Other: $57,109

Maria Martinez, EVP and Chief Customer Experience Officer

  • Total Compensation (approx.): $19.34 million
  • Base Salary: $675,000
  • Stock Awards: $12 million
  • Bonus: $6.5 million
  • Annual Incentive Plan: $400,569
  • Other: $45,687

Gerri Elliott, EVP and Chief Sales and Marketing Officer

  • Total Compensation (approx.): $16.85 million
  • Base Salary: $750,000
  • Stock Awards: $10 million
  • Bonus: $6 million
  • Annual Incentive Plan: $385,941
  • Other: $45,687

In March, Cisco hired Martinez as its new EVP and chief customer experience officer. Martinez came from Salesforce. And Cisco hired Elliott, formerly a leader at IBM, Microsoft, and Juniper, as its EVP and chief marketing officer.

Cisco has been undergoing a multi-year transition to sell more software and subscriptions. And it said that these two new executives brought a wealth of software and subscription experience.

Cisco said its independent compensation consultant helped formulate the packages for Martinez and Elliott. For Martinez, over half of her new hire awards were designed to compensate her for the unvested equity she forfeited by leaving Salesforce. It recommended Elliott’s award level “to induce her out of retirement and join Cisco,” according to its most recent SEC filing.