Patrick McHale, Graco president, CEO

Total compensation: $34,881,029 for the year ended Dec. 28

Salary: $816,000

Nonequity incentive pay: $1,224,000

Other compensation: $14,411

Exercised stock options: $32,826,618

New stock options: 351,830

Median employee pay: $62,260

CEO pay ratio: 103:1

Total 2018 shareholder return: -6.3 percent

Note: McHale’s total realized compensation was down 26 percent from the $47.2 million he made in 2017. In both years, McHale benefited from previously issued stock options that he elected to exercise. Last year, he exercised 1.3 million shares worth $32.8 million.

The Minneapolis-based manufacturer had record results in 2018. Sales for the year were $1.65 billion, up 12.1 percent, and earnings per share were up 36 percent. That performance helped McHale earn his largest cash incentive award as the company exceeded targets.

The company disclosed its CEO pay ratio, a calculation of the CEO’s total pay that includes the present value of long-term equity awards granted during the year, compared to the compensation of the company’s median employee. McHale’s total compensation used for that calculation was $6.4 million and resulted in a CEO pay ratio of 103:1.