Propelled by a soaring stock market, the median pay package for a chief executive of a typical large public company rose above eight figures for the first time last year, an increase of 8.8 percent from 2012.
The median senior executive collected $923,705 in salary, stock or stock options, incentive pay and perks in 2013, IBJ found in a review of proxy statements at 64 companies.The median compensation rose 20 percent from 2012 and doubled since 2006.
Before local hospitals slashed staff and expenses last year, they had been boosting the pay packages of their top executives faster than hospitals around the country. Seven of every 10 senior executives at the major hospital systems in Indianapolis saw their total compensation rise more than 10 percent from 2010 to 2012.
Stock options accounted for the biggest chunk of the CEO’s compensation. Their value will depend on the company’s future stock performance.
Simon Property Group won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
WellPoint CEO Joe Swedish wasn’t the only health insurance exec making big bucks last year. Aetna Inc. Chairman and CEO Mark T. Bertolini saw his total compensation more than double, to top $30 million.
Compensation for Joe Swedish included $4.1 million in perks, such as $3.8 million he would have received in his previous job, $79,000 in relocation expenses, and $82,000 for his legal fees from contract negotiations.
Lilly CEO John Lechleiter was paid $11.2 million in salary, bonus, stock and perks last year, according to Lilly’s proxy statement filed Monday morning. That represented a 10-percent increase over his take in 2012.
Steve Collins and Traci Dolan, who both have served as ExactTarget’s chief financial officer, have departed the recently acquired company.
Simon Property Group has tied CEO David Simon’s $154 million retention bonus to the financial performance of the company, but plaintiffs in a related legal action are not satisfied.
The inconsistent measures that companies use to disclose CEO pay is the newest battleground in executive compensation. As the SEC works on a rule to require pay-for-performance reports, it also plans to end the wide latitude enjoyed by firms when they compute the numbers.
Simon Property Group directors improperly refused to let shareholders vote on changes to the company’s executive-compensation plan that resulted in a $120 million stock award to CEO David Simon, investors’ lawyers argued Monday in court.
State utility regulators kicked off a week-long hearing Monday on a proposed water rate increase for Indianapolis residents by putting the CEO of Citizens Energy Group on the hot seat.
Citizens Energy Group has enjoyed a certain amount of public good will over the last 125 years as a not-for-profit, charitable trust. But rising incentive pay to the trust’s top brass recently has conjured up images of an investor-owned utility—and the scrutiny of regulators.
Senior executives at Indiana's public companies last year received, on average, more in perks than the typical Hoosier earned all year, IBJ found after reviewing Securities and Exchange Commission documents for more than 60 Indiana companies.
BSU’s Jo Ann Gora was the fifth-highest-paid public college president in the United States during the 2011-12 academic year, according to a new survey released Monday.
Mike Pence's annual salary of $111,687 is the highest ever for an Indiana governor, due to a law that boosts the salary of the state’s chief executive at the beginning of every term.
The $120 million retention bonus that Simon Property Group Inc.’s board awarded David Simon two years ago has spawned a bitter legal battle in Delaware that promises to shed fascinating light on the inner workings of the board.
The lead lawyer for Marsh Supermarkets Inc. expects to call Don Marsh as its first witness when the civil trial against him reconvenes Tuesday. The grocery chain alleges that the former CEO used company funds to pay more than $3 million in personal expenses.
Citizens Energy Group—a not-for-profit, public charitable trust—doubled its size last year with its $1.9 billion purchase of the city’s water and sewer utilities last year. It also doubled the pay of CEO Carey Lykins.
