CEO Pay Watch Deluxe Corp.
Lee Schram, CEO
Total compensation: $4,752,115 for the year ended Dec. 31
Non-equity incentive pay: $1,029,027
Other compensation: $26,432
Exercised stock options: $2,865,156
New stock options: 95,800
Total 2013 return to shareholders: 65.8 percent
Note: Schram’s total compensation decreased 9.8 percent from 2012. His annual salary increased, but his annual bonus decreased by $156,000, and gains from previously issued stock options decreased by $374,000.
Shoreview-based Deluxe Corp. is making progress in its long-term strategy to gain more of its sales and earnings from its marketing and business services and becoming less reliant on its check and other printed-products business. In the past three years the company’s services revenue has grown, but not at the rate that would have triggered a bonus as part of a long-term cash performance plan tied to services revenue.
Schram and other executives did earn a bonus under its annual performance plan as it hit overall revenue and operating income targets for 2013 and made progress on other nonfinancial factors.
Shareholders last year overwhelmingly supported the company’s executive compensation plan when 95.6 percent of shareholders voted to approve the nonbinding “say-on-pay’’ resolution on executive compensation.