Mallinckrodt CEO's pay jumps to $9.7 million
By David Nicklaus St. Louis Post-Dispatch
Jan 22, 2016 11:43 AM
Bigger stock and options awards raised Mallinckrodt Chief Executive Mark Trudeau's compensation 50 percent last year to $9.7 million. Mallinckrodt reported Trudeau's pay in a proxy statement filed Friday. His $4.4 million in stock grants and $3 million worth of options were both double the 2014 amounts . Two-thirds of the stock award depends on Mallinckrodt's performance between 2015 and 2017. Trudeau earned a salary of just over $1 million, an increase of 11 percent, and a bonus of $1.05 million, which was 84 percent of the target level. His perquisites included $12,409 worth of financial planning services and $44,758 of tax reimbursements for "business-related additional benefits," including spousal travel to a sales incentive program. Mallinckrodt earned $305.7 million in fiscal 2015, which ended Sept. 25, after posting a loss in 2014. Its share price fell 24 percent during the year. Trudeau's golden parachute, the amount he would receive if he leaves the company after a takeover, amounts to $25.9 million, including $5.8 million in severance and bonus.
By David Nicklaus St. Louis Post-Dispatch
Jan 22, 2016 11:43 AM
Bigger stock and options awards raised Mallinckrodt Chief Executive Mark Trudeau's compensation 50 percent last year to $9.7 million. Mallinckrodt reported Trudeau's pay in a proxy statement filed Friday. His $4.4 million in stock grants and $3 million worth of options were both double the 2014 amounts . Two-thirds of the stock award depends on Mallinckrodt's performance between 2015 and 2017. Trudeau earned a salary of just over $1 million, an increase of 11 percent, and a bonus of $1.05 million, which was 84 percent of the target level. His perquisites included $12,409 worth of financial planning services and $44,758 of tax reimbursements for "business-related additional benefits," including spousal travel to a sales incentive program. Mallinckrodt earned $305.7 million in fiscal 2015, which ended Sept. 25, after posting a loss in 2014. Its share price fell 24 percent during the year. Trudeau's golden parachute, the amount he would receive if he leaves the company after a takeover, amounts to $25.9 million, including $5.8 million in severance and bonus.