Total compensation: $50,989,783 for the year ended April 29
Salary: $1,548,216
Non-equity incentive pay: $6,070,758
Other compensation: $90,299
Exercised stock options: $13,556,856
Value realized on vesting shares: $29,723,654
New stock options: 222,223
Total fiscal 2016 shareholder return: 8.5 percent
Note: In the first full fiscal year after Medtronic's acquisition of Covidien in January 2015, Ishrak's total compensation went up 26 percent. His total compensation for Medtronic's fiscal year, which ended April 29, was fueled by long-term equity awards granted in previous years that vested or were exercised.
Ishrak exercised 323,013 options worth $13.6 million and gained $29.7 million from restricted stock awards that vested. (He deferred about 96 percent of his restricted stock that vested during the year until retirement.)
During the fiscal year, Medtronic's non-GAAP adjusted earnings per share increased 2 percent to $4.37 per share, revenue for the combined companies increased 7 percent to $28.8 billion and earnings increased 31 percent to $6.2 billion.
Ishrak's base salary rose 3 percent and he earned 110.8 percent of target annual incentive bonus for the year.
Because of Medtronic's increased size, the board and the firm's compensation consultant created a new 28-member peer group based on size, global complexity and whom they are likely to compete with for talent.
Patrick Kennedy
Minnesota Rep. Michael Howard, who represents Richfield, said the employees also were injured in the incident.
