MTS Systems Corp.
Jeffrey Graves, CEO
Total compensation: $1,099,473 for the year ended Sept. 30, 2013
Salary: $612,467
Non-equity incentive pay: $232,112
Other compensation: $27,723
Value realized on vesting shares: $227,171
New stock options: 0
Fiscal 2013 return to shareholders: 22.8 percent
Notes: MTS Systems, a supplier of test systems and industrial position sensors, promoted Graves to CEO on April 4, 2012. He completed his first full fiscal year as CEO when the company's fiscal year ended on Sept. 30.
The company's compensation committee made a change to the timing of its year-end cash and equity awards to more closely align executives' performance reviews with individual and corporate performance.
As a result of the timing shift, the company didn't make any equity awards to executives other than those who are new.
The company will continue to use an even mix of stock options and restricted stock units in fiscal 2014.
In December, the compensation committee awarded equity grants (while adjusting for the grant-date timing switch) and Graves received $1.36 million in stock options and restricted stock units.
At the company's last annual meeting on Feb. 5, 98 percent of shareholders approved the company's executive compensation package in the nonbinding "Say-on-Pay'' vote.
Patrick Kennedy
