CVS Health Corp. (CVS) CEO gets $32 Million in salary and another $11 Million in stock value
CVS Health Corp (CVS) had a good year, and so did its top executive
On Monday , as per the released regulatory filings, President Chief Executive Officer of CVS Health Corp Larry Merlo received a total compensation of $32.2 million and received another $11 million in realized value from last year stock awards , increased by 2% from the prior year.
The compensation shows that the company had an amazing year of 2014. CVS Health Corp stock price surged by 34.6% last year from previous stock price of $70.55 per share earlier last year to reach $98.25 per share at the end. Presently, the share price of the company is soaring around $103.87 per share.
The Pharmaceutical Companies which includes minute clinics, retail drugstores, and a pharmaceutical benefit manager is amid the biggest chain of pharmacy in Massachusetts. Last year, almost 358 of the CVS’s 7,822 stores were located in the State of Bay.
In the year 2014, company was able to capture net revenue of $139.3 billion surged by more than 10% from the previous year. Net income of the company was $4.6 billion, 1% more than the prior year.
25% increase in Mr. Merlo’s compensation shows how successful the company was in the year.
-Merlo received basic salary amounting to $1.35 million last year, a 1% increase from the previous year’s salary.
-His stock awards totaled to $6.5 million, same as 2013.
-$4 million in option awards was taken by Merlo, which was exactly the same as in the prior year.
-Talking about non-equity compensation equity plan which contains cash related awards, he pocketed additional $11.4 million almost 35% more than the prior year.
-He also reported pension related compensation of $8 million almost $400,000 less than the previous year’s compensation. Merlo was amongst the few senior executives of CVS to post pension benefits for the fiscal year 2014.
-Additionally, he also pocketed approximately $720,414 in extra compensation including use of the aircraft of the company, security services at home and money linked with the company’s Charity. He also got $290,000 in the form of dividends on unvested limited share units.
-He approximately realized around $11 million in stock compensation plan which was awarded in past years. He declared the similar value of that in 2013.
According to Fortune, we will have to accumulate the salary of over 400 Caremark employees of the company to equal the salary of CVS Health Corp. CEO Larry Merlo.
At market close on Thursday, CVS stock stood at $102.71 after 0.44% increase.