Indian-born Nooyi, who has been the beverage-and-snacks giant chief executive since 2006, got a 2011 annual incentive award of $2.5 million, 22% below her performance-based target.
The 56-year-old Nooyi's annual base salary was increased from $1.3 million to $1.6 million, effective February 2011.
Nooyi's pension value and non-qualified deferred compensation earnings was about USD 3 million, up from USD 2.1 million in 2010.
Most interestingly, Nooyi has earned hike even as the soda-and-snacks giant failed to meet its key internal performance targets since last couple of months.
Meanwhile, soft drink major is undertaking some potential measures to boost the company's performance, especially in its Americas beverage division where sales have been lackluster.