Carpenter's compensation was down more than 60% from the $9 million he realized in fiscal 2019.
Tod Carpenter, Donaldson Co. Inc. chairman, president, CEO
Total compensation: $3,347,244 for the year ended July 31
Salary: $1,033,654
Non-equity incentive pay: $269,429
Other compensation: $113,234
Value realized on vesting shares: $1,930,927
New stock options: 178,600
CEO pay ratio: 175 to 1
Median employee pay: $31,275
Total shareholder return: -1.6 %
Note: Carpenter's compensation was down more than 60% from the $9 million he realized in fiscal 2019 after earning a smaller bonus and realizing significantly less from long-term equity awards. Carpenter didn't exercise any options last year, and the value of restricted stock that vested during the fiscal year was $1.9 million vs. $5.7 million from the previous year.
The company said it made progress on its strategic and operational goals during the year despite hits from COVID-19 in the second half of its fiscal year. However, the impact of COVID-19 meant key financial goals — including revenue, earnings and return on investment measures used to determine annual incentive bonuses — came in below targeted levels.
Annual incentive goals came in at 23% of the target. Performance targets for three-year long-term incentive goals finished above target, earning Carpenter 41,922 shares of restricted stock, 111.2% of the target for the three-year cycle. In the previous year, Carpenter earned 110,955 restricted shares for the 2017 to 2019 performance period.
Patrick Kennedy
State officials said higher premiums and diminished federal tax credits mean some people likely feel they can’t afford coverage.
