Mark Lucas, Imation Corp.
Former president and CEO
Total compensation: $6,746,076 for the year ended Dec. 31, 2015
Non-equity incentive pay: $0
Other compensation: $5,488,647
Value realized on vesting shares: $740,671
New stock options: 0
Total 2015 shareholder return: -63.8 percent
Note: Mark Lucas departed Imation in August 2015. For the partial year, he took home $6.7 million in total compensation; $5.5 million of that was a severance payment.
Shareholders of the struggling data-storage company have seen the share price slide. The company’s stock had a negative return in 2015 of 64 percent, and shareholders have expressed their disapproval of the company’s executive compensation plan the past two years. At the last annual meeting, shareholders overwhelming voted against the company’s nonbinding say-on-pay proposal, with 65.6 percent of votes going against it.
The company is now in the midst of another restructuring plan. In January, it sold its headquarters building in Oakdale and will likely move its headquarters to California sometime this year.
The company’s newly constituted board of directors, elected at last year’s annual meeting, have undergone a “wholesale examination” of the executive compensation program, according to the proxy filed last week.