CEO PAY WATCH MEDTRONIC INC.
William Hawkins, former chairman, CEOTotal compensation: $5,517,788 for the year that ended April 30
Salary: $1,250,000
Non-equity incentive pay: $2,375,500
Other compensation: $48,526
Exercised stock options: $0
Value realized on vesting shares: $1,843,762
New stock options: 293,099
Total fiscal 2011 return to shareholders: -2.1 percent
Note: Hawkins announced his retirement from the Fridley-based medical technology company in December 2010. Omar Ishrak, a veteran GE executive, was named CEO in May and took over on June 13. Hawkins agreed to assist the company in the transition until his scheduled retirement on April 27, 2012.
Ishrak signed on as CEO with a base salary of $1,350,000 and received a signing bonus of $650,000 to replace incentive compensation from GE. Ishrak was also granted stock awards with a grant date value of at least $8,450,000; he'll also get 177,557 performance-based restricted stock units and 248,580 time-vested restricted stock units. Ishrak will also get the same $40,000 business allowance that Hawkins got and yet-to-be-disclosed relocation expenses.
Patrick Kennedy
