The bulk of his 2014 compensation came from stock and options awards, totaling $20.3 million. He also received $338,835 in salary. The compensation was disclosed today in a proxy statement ahead of the annual shareholders meeting Aug. 14.
“By making the greatest portion of our chief executive officer's compensation package in the form of performance-based pay, with value directly tied to the increase in value of our organization and thus our stock price, we aim to ensure that our executive compensation packages are strongly focused on pay-for-performance, not merely attraction and retention,” the statement said.
The company cited several goals achieved in 2014, such as boosting its investment in IT and making results more consistent for its customers.
But last year also was a “challenging period” for Accretive, which fell short of financial goals, the statement said. That's why Stephen Schuckenbrock, who was CEO from April 2013 to July 2014, missed out on a potential $595,000 bonus, the statement said.
Among other executives' compensation in 2014:
- Peter Csapo, chief financial officer and treasurer since August, made $3.1 million. Most of his compensation came from stock and options awards totaling $2.9 million.
- Joseph Flanagan, chief operating officer since April 2013, received $6.1 million, a 40 percent decrease from the previous year when he got $10.3 million, mostly due to a decline in stock and options awards.