CEO Pay Watch Polaris Industries Inc.
Scott Wine, chairman and CEO
Total compensation: $31,071,610 for the year ended Dec. 31
Non-equity incentive pay: $1,546,350
Other compensation: $158,676
Exercised stock options: $17,191,349
Value realized on vesting shares: $11,260,235
New stock options: 180,000
Total 2012 return to shareholders: 52.9 percent
Note: Polaris Industries, maker of snowmobiles, ATVs, motorcycles and accessories, had another strong year with 2012 revenue of $3.2 billion, a 21 percent increase over 2011. The company had a total return to shareholders of 52.9 percent in 2012 and the company’s three-year and five-year annualized total returns were the best among its peer group of 22 companies.
Medina-based Polaris awards long-term incentives in stock options and restricted stock. Polaris CEO Scott Wine benefitted from long-held stock options and Polaris’ rising stock price.
Wine realized $11.3 million from restricted stock in 2012, which was $4.7 million more than in 2011. The company’s long-term incentive plan and performance restricted-stock unit awards are awarded on multiyear performance criteria.
The long-term incentive plan for the 2010-2012 performance period paid out at the maximum level for the second year in a row.
Wine’s total compensation for 2012 increased 150 percent over the $12.4 million he took home in 2011. The total compensation was aided by the $17.2 million he got from exercising stock options in 2012, which was $13.8 million more than he exercised in 2011, and the $11.3 million from restricted stock awards.
Wine’s salary for 2012 increased by 14 percent and he’ll get another 3.8 percent increase for 2013 when annual raises go into effect on April 1.