CEO Pay Watch: Andew Duff, Piper Jaffray

  • Updated: March 27, 2014 - 8:49 PM
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Andrew Duff of Piper Jaffray Cos.

Photo: Jeff Wheeler, Star Tribune

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CEO Pay Watch Piper Jaffray Companies

Andrew Duff, chairman, CEO

Total compensation: $4,342,785 for the year ended Dec. 31

Salary: $650,000

Non-equity incentive pay: $1,957,120

Other compensation: $99,858

Value realized on vesting shares: $1,635,807

Total 2013 return to shareholders: 23.1 percent

Note: Duff took home $4.3 million in 2013 after taking home $2.8 million in 2012. Duff’s base salary has been the same for the past three years and his 2013 annual performance bonus was down less than 1 percent compared with 2012. Most of his increase was from 39,888 shares of stock that vested during the year.

At the company’s annual meeting last year, 98 percent of shares were voted “for” the nonbinding advisory vote on executive compensation, an improvement from 78 percent support the prior year. While the company had support for its compensation practices, it still made some adjustments. Shareholders at last year’s annual meeting approved a “double-trigger” change-in-control provision — a compensation provision that helps determine when restricted shares would vest in the event of a company sale.

And in February of this year, the board approved a clawback policy that would “recover incentive compensation from any current or former executive officer if that executive officer engages in intentional misconduct that caused or contributed to noncompliance with a financial reporting requirement.”

Patrick Kennedy

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