CEO Pay Watch Cardiovascular Systems
David Martin, president, CEO
Total compensation: $13,814,033 for the year ended June 30
Salary: $550,440
Bonus: $500,000
Non-equity incentive pay: $1,140,750
Other compensation: $56,091
Exercised stock options: $8,167,352
Value realized on vesting shares: $3,399,400
Total shareholder return: 46.7 percent
Note: Martin's compensation greatly increased over his $4.3 million in 2012, mainly from a performance-based bonus that increased 32 percent as the company exceeded its revenue and profitability targets.
For the year ended June 30, the New Brighton-based maker of medical devices had revenue of $136.6 million, which was a 31.5 percent increase over the previous year and exceeded the maximum target of $131 million.
Martin also earned a big increase from long-term equity awards that were realized during the year, including $8.2 million from exercised options originally granted in 2006 and $4 million for restricted shares that vested.
The compensation committee of Cardiovascular Systems also granted Martin a discretionary bonus of $500,000 "in recognition of his significant role in achieving substantially increased value for our stockholders during fiscal 2014 and because his total compensation without this bonus was lower than market benchmarks."
Patrick Kennedy
