Total compensation: $4,752,697 for the year ended June 30, 2018
Salary: $911,000
Nonequity incentive pay: $1,610,925
Other compensation: $42,860
Value realized on vesting shares: $2,187,912
New stock options: 78,288
Total shareholder return: 27.1 percent
CEO pay ratio: 131:1
Median employee pay: $73,840
Note: Bio-Techne shareholders gave the nonbinding "say-on-pay" vote on executive compensation declining approval for two years. At last year's annual meeting, the vote barely passed with 56.8 percent approval. In response, the board launched a shareholder-engagement plan with additional disclosures regarding the policies. The board said pay has aligned with company performance and credited Kummeth with driving a strategy of growth that included investment in the company and growth through acquisitions. During fiscal 2018, the company announced or closed on four acquisitions.
Kummeth, who became CEO of the Minneapolis-based company in 2013, took home $4.75 million, a 78 percent increase over the previous year. That included a 3.5 percent increase to his base salary. Kummeth earned his largest annual incentive cash bonus for achieving 142 percent of the annual incentives target for fiscal 2018 that included operating income and organic revenue growth goals.
For the fiscal year ended June 30, Bio-Techne had revenue of $643 million, up 14 percent, and $231 million in consolidated adjusted operating income.
Patrick Kennedy
