CEO Pay Watch Valspar Corp.

Gary Hendrickson, chairman, president, CEO

Total compensation: $10,573,907 for the year ended Oct. 31

Salary: $969,231

Non-equity incentive pay: $2,229,232

Other compensation: $534,333

Exercised stock options: $4,514,591

Value realized on vesting shares: $2,326,520

New stock options: 82,670

Total fiscal 2014 shareholder return: 19.1 percent

Note: During the fiscal year ended Oct. 31, the paint and coatings manufacturer based in Minneapolis had revenue of $4.5 billion, a 10.2 percent increase over fiscal 2013. The company's adjusted net income, excluding some after-tax restructuring charges, was $374.3 million, a 16.8 percent increase over last year.

Most of Hendrickson's compensation for the year, $6.8 million, was from the value of long-term equity awards that were exercised or vested during the year.

The financial performance for the year earned Hendrickson, and other executives, larger bonuses and larger long-term equity awards for the year. Hendrickson's performance based bonus was $2.2 million, up from the $378,2090 he earned the previous year. Valspar also recorded an expense of $3,548,041 for new stock awards and $1,860,075 for new option awards granted to Hendrickson last year.

During the past five fiscal years, Valspar's total shareholder return was 253.2 percent, or an annualized return of 28.7 percent, outpacing the S&P 500 index during that period. Over the same period the S&P 500 increased 116.3 percent.

Patrick Kennedy