CEO Pay Watch Polaris Industries Inc.
Scott Wine, chairman and CEO
Total compensation: $31,349,579 for the year ended Dec. 31
Non-equity incentive pay: $1,326,000
Other compensation: $132,235
Exercised stock options: $22,942,154
Value realized on vesting shares: $5,980,536
New stock options: 101,000
Total 2014 shareholder return: 5.3 percent
Note: The stock of Medina-based Polaris Industries had a total return of only 5.3 percent in 2014, but over the past five years the stock of the maker of recreation vehicles -- including all-terrain vehicles, side-by-sides, snowmobiles, small vehicles and motorcycles -- has had an annualized total return of 50 percent, best among its peers.
The executive compensation program at Polaris uses several long-term equity-based components, and, as a result, CEO Scott Wine has benefited from the stock's appreciation. His total compensation for 2014 included $28.9 million from the combined value of long-term equity awards that vested or were exercised by Wine in 2014. During the year, he realized $22.9 million when he exercised 200,000 stock options and $6 million more when 40,709 restricted shares and performance-based restricted shares that vested during the year.
Wine was named CEO of Polaris on Sept. 1, 2008. During his tenure, the stock has had a total return of nearly 675 percent and is currently trading near record highs. The financial results also have risen to record heights. The company had net sales in 2014 of $4.5 billion, a 19 percent increase over 2013 and the fifth consecutive year of record sales. Earnings from continuing operations were $6.65 per share, a 23 percent increase over 2013 and also the fifth consecutive year of record earnings.