Business

CEO Pay Watch: TCF's Craig Dahl made $2.2 million last year

February 28, 2017 at 2:11AM
Caption (The Minnesota Star Tribune)
Craig Dahl
TCF Financial Corp.

Vice chairman, president, CEO

Total compensation: $2,263,288 for the year ended Dec. 31

Salary: $846,923

Nonequity incentive pay: $918,356

Other compensation: $93,564

Value realized on vesting shares: $404,445

Total 2016 shareholder return: 41.9 percent

Note: Dahl received a 30.5 percent increase in his base salary to a rate of $850,000 per year after taking over as CEO on Jan. 1, 2016. The compensation committee elected to increase Dahl's 2017 base compensation rate to $900,000 after a review with its compensation consultant FW Cook. Dahl's annual cash incentive bonus in 2016 increased by 41.5 percent over 2015 as TCF generally exceeded the financial incentive targets for 2016.

Responding to feedback from shareholders, the compensation committee of TCF's board of directors elected to reduce the size of its peer group for 2017 from 48 to 21. It will be applied to 2017 compensation levels.

Compared to its new peer group, TCF's assets are closer to the group median; its total revenue is nearer the high-end.

Patrick Kennedy

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