CEO Pay Watch Polaris Industries Inc.
Scott Wine, Chairman, CEO
Total compensation: $8,570,016 for the year ended Dec. 31, 2013
Non-equity incentive pay: $1,393,050
Other compensation: $153,880
Value realized on vesting shares: $6,081,836
New stock options: 163,000
Total 2013 return to shareholders: 75.9 percent
Note: Wine took home $8.6 million during 2013, that was down from $31 million he took home in 2012.
Wine, CEO of the Medina-based company since Sept. 1, 2008, had a 3.8 percent increase in his base salary and a earned a little less in annual bonus, but the big difference in the two years was $6.1 million in restricted stock that vested in 2013, compared with the $28 million in stock option gains and restricted stock awards in 2012.
Wine exercised long-held stock options worth $17.2 million in 2012, but elected not to exercise any options in 2013.
The company had its fourth consecutive year of record annual revenue and finished 2013 with $3.8 billion in sales, up 17.7 percent over 2012. The company’s net income from continuing operations rose 22.0 percent to $381 million. Because of the company’s financial performance, Wine earned a $1.4 million bonus, or approximately 148 percent of his base salary.
In addition to his salary, bonus and equity awards, one of the perks of being CEO of a maker of snowmobiles, all-terrain vehicles and motorcycles is the use of 16 Polaris products a year. The company’s president and COO gets the use of 12 Polaris products a year and other senior executives get to use eight. The products used are either returned to the company or purchased at a price greater than cost at the end of the period used, and the returned products are sold to dealers. As a result, there is no incremental cost to the company associated with use of the products.