CEOs Taking Government Aid Could See Million-Dollar Pay Cut

Chief executive officers at S&P 500 companies that get government aid for coping with the coronavirus pandemic could face a pay cut as small as thousands of dollars or as big as tens of millions, depending on how much they make.

The U.S. stimulus package signed into law last month limits total compensation to $3 million plus half of anything over that amount for CEOs and other top executives at companies taking government money. The $3 million threshold would likely cover most of the S&P 500 index, Bloomberg data show.

For a typical CEO, the median pay cut could total ...