CEO Pay Watch: Lee Schram, Deluxe Corp.

  • Updated: March 13, 2014 - 8:41 PM

CEO Pay Watch Deluxe Corp.

Lee Schram, CEO

Total compensation: $4,752,115 for the year ended Dec. 31

Salary: $831,500

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.

Patrick Kennedy

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