Business

CEO Pay Watch: James Owens, H.B. Fuller Co.

March 1, 2014 at 1:53AM

James Owens (The Minnesota Star Tribune)

CEO Pay Watch H.B. Fuller Co.

James Owens, president and CEO

Total compensation: $2,904,023 for the year ended Nov. 30

Salary: $839,135

Non-equity incentive pay: $783,682

Other compensation: $348,306

Value realized on vesting shares: $932,900

New stock options: 80,697

Total fiscal 2013 return to shareholders: 57.6 percent

Note: Owens took home $2.9 million from the Vadnais Heights-based company, up from $2.7 million in the previous year. His base salary was up 15 percent as the board of directors looked to put his salary above the median for Fuller's peer group. According to the proxy, "The 15 percent increase was granted in recognition of his superior performance over the prior period, including the successful implementation of the Forbo Industrial Adhesives business acquisition and overall solid financial performance for 2012."

Owens' annual cash bonus was down 8.3 percent for 2013 as the company missed aggressive short-term incentive targets. The company fell shy of some revenue and operating-income goals for the year but earnings per share of $2.55 exceeded the target for the year.

Owens also collected about $430,000 more from long-term equity awards that were exercised or vested in the year as the stock of the maker of adhesives, sealants and other industrial chemicals had total return of 57.6 percent for their fiscal year.

Patrick Kennedy