General Motors CEO Dan Akerson has just purchased 30,000 shares of GM worth around $940,000, reports Reuters.
Akerson was named chief of GM in 2010. While his peers at Ford and Fiat have received bonuses and stock options over the past year, Akerson has not. In fact, in a recent report Akerson said that he would not be getting a cash bonus for his work in 2011.
Akerson purchased the stock on Thursday when shares were trading at $31.33 per share. As of this morning, GM’s stock is currently trading for just under $25.00 per share, Reuters reports. Since its IPO offering in November 2010, GM’s stock has hovered below the IPO price of $33 per share with fuel prices rising and investors nervous about the U.S. Treasury’s ownership stake in the automaker.
While Akerson’s $940,000 in shares is a significant investment in GM, it’s worth noting he was paid $2.53 million in 2010 after just four months as GM’s chief.