Richard Olson, The Toro Co. chairman, president, CEO
Total compensation: $2,829,831 for the year ended Oct. 31
Non-equity incentive pay: $918,803
Other compensation: $171,279
Value realized on vesting shares: $864,749
New stock options: 102,400
Total fiscal 2018 shareholder return: -9.2 percent
CEO pay ratio: 117:1
Median pay: $43,302
Note: Olson took home $2.8 million in Toro’s fiscal year that ended Oct. 31, on par with the previous year. Olson received a $100,000 increase to his base salary, a 12.9 percent rise, in part to reflect his increased duties since taking over the CEO role in November 2016 and the chairman role a year later. Other senior executives got 3 percent increases to their base salaries.
The compensation committee noted in the proxy that it aims its compensation package at the 50th percentile of the market and, with Olson’s raise, his annual salary is 7 percent below the 50th percentile.
Olson’s annual incentive plan compensation in fiscal 2018 was down 7.3 percent, or nearly $73,000, as the company fell short of financial incentive targets for the year. The corporate performance payout was 95 percent of the targeted award, as per-share earnings and revenue came in below targeted amounts.