Study that pegs Simon Property’s CEO as highest-paid finds executive compensation is soaring along with profit at public companies.
Simon Property Group Inc. is firing back at a corporate governance advisory firm that has recommended Simon shareholders vote against an employment agreement for CEO David Simon that includes a $120 million retention award.
David Simon must remain CEO of Indianapolis-based Simon Property Group for at least six years to see any of the $120 million in special stock awards the company’s board of directors awarded him last year, and must stay on eight years to reap the full amount.
Indianapolis Power & Light chief Ann Murtlow left the utility this spring under terms of a separation agreement that would have entitled her to at least $404,410, according to documents the utility filed Nov. 3 with the Securities and Exchange Commission.
Purdue University said Thursday the increase will boost President France Cordova’s salary by $15,750, bringing her annual base pay to $465,750.
Indianapolis-based Simon Property Group Inc. signed an employment agreement with CEO David Simon that will keep him as head of the largest U.S. mall owner for the next eight years—and give him a one-time award worth $120 million.
Executives at Indiana’s public companies got rich in the down-and-up market, even when investors didn't. CNO Financial's Jim Prieur, for example, received stock grants now worth $4.4M, despite share prices that are 40 percent lower than three years ago. With searchable database.
The Association of BellTel Retirees Inc. will press the board of Verizon Communications Inc. to tighten standards for executive pay when the New York company holds its annual meeting in Indianapolis this week.
Citizens Energy Group CEO Carey Lykins’ 2010 pay package, salary and bonus, totaled $1.6 million, more than his counterparts at the three largest municipal gas utilities in the country.
The Carmel-based life and health insurer more than doubled CEO Jim Prieur’s compensation, and also gave increases ranging from 44 percent to 89 percent to other top executives.
All publicly traded companies have to allow advisory votes about top executives compensation every two or three under the Dodd-Frank financial reform passed by Congress last year.
The Carmel-based for-profit educator still will pay its top executives bonuses, but they’ll no longer be tied to school enrollment, the company said Tuesday in a proxy filing.
Local consultants Bryan Orander and Jim Morris conducted the survey this summer to fulfill what they see as a lack of hard data on executive pay in the local not-for-profit sector.
After criticizing an earlier pay proposal, 82 percent of Biglari Holdings’ shareholders approved a scaled-back bonus agreement for their CEO.