WILLIAM COOPER TCF FINANCIAL Co. CHAIRMAN AND FORMER CEO

Total compensation: $3,941,789 for the year ended Dec. 31, 2015

Salary: $1,500,000

Nonequity incentive pay: $1,990,777

Other compensation: $451,012

Total 2015 shareholder return: -9.9 percent

Note: William Cooper, who retired as TCF's CEO for the second time at the end of 2015, took home significantly less than the $17.1 million he took home in 2014. In the prior year, the majority of his $12.1 million in compensation was realized from restricted stock awards.

In 2015, Cooper didn't exercise any stock options or realize any restricted stock awards. His salary was the same, but his annual incentive bonus decreased by $1 million.

TCF failed the shareholders' nonbinding say on pay vote two years in a row. At last year's annual meeting in April, only 30.6 percent of shareholders supported the say-on-pay vote, one of the 15 lowest scores during the last year. In response to those votes, the company made concerted efforts in 2015 to engage shareholders more often by attending nine investor day conferences and hosting its first investor day since 2006.

In addition to a number of governance and compensation changes, it lowered the level of potential bonuses for some executives, tied some long-term equity awards to total shareholder return and amended Cooper's employment contract to remove a lump-sum payment he could have received for not being elected chairman.

Craig Dahl, who succeeded Cooper as CEO, will receive an annual salary of $850,000 in 2016.

Patrick Kennedy