CEO Pay Watch H.B. Fuller Co.
James Owens, president, CEO
Total compensation: $2,955,061 for the year ended Nov. 30
Non-equity incentive pay: $221,401
Other compensation: $326,367
Value realized on vesting shares: $1,446,865
New stock options: 79,061
Total fiscal 2014 shareholder return: –14.8 percent
Note: Owens’ total compensation for the year rose 1.8 percent from the $2.9 million he took home the year before.
Last January, the compensation committee of Fuller’s board gave Owens a 10.14 percent salary increase, which moved his salary into the top quarter among Fuller’s peer group. According to the proxy, the raise “was granted in recognition of his overall outstanding performance,” including achievement of five-year strategic goals, work on two acquisitions, and construction of a new plant in China.
The salary increase — plus $1.4 million from previously issued restricted stock that vested during the year — offset a 72 percent decrease in his annual incentive bonus as Fuller came in under targeted financial goals for 2014.
For the year ended Nov. 30, Fuller reported organic revenue of $2.1 billion, operating income of $135.5 million and earnings per share of $1.71. The goals set for the targeted levels of bonus payments were revenue of $2.2 billion, $236.7 million in operating income and EPS of $3.05.