Most of the money was from stock options that Mattys had received, some before the company went public.
Gerald "Jerry" Mattys, Tactile Systems Technology Inc. CEO
Total compensation: $13,761,017 for the year ended Dec. 31, 2018
Salary: $502,115
Nonequity incentive pay: $547,074
Exercised stock options: $11,425,783
Value realized on vesting shares: $1,286,045
New stock options: 20,056
Median employee pay: $77,245
CEO pay ratio: 27
Total 2018 shareholder return: 57.2 percent
Note: Mattys' total realized compensation increased 175 percent from the $5 million he took home last year, mainly from the exercise of previously issued stock options.
Tactile Systems Technology, aka Tactile Medical, went public on July 28, 2016. Shares were priced at $10 per share. Since its debut on the Nasdaq, the medical device maker has had one of the better stock performances among Minnesota's public companies with a total return of 468 percent.
Mattys gained $11.4 million from his options by exercising shares that he was issued prior to the initial public offering and at pre-IPO prices. Most of the previously issued options Mattys was able to exercise in 2018 were priced below $1 and $2 per share.
In addition to his option gains, Mattys also got a 27 percent increase to his base salary rate during the year. And he earned a larger cash incentive bonus than in 2017 because the company exceed the financial incentive targets for the year, including revenue and earnings measures.
Patrick Kennedy
State officials said higher premiums and diminished federal tax credits mean some people likely feel they can’t afford coverage.
