Anderson took home $4.1 million for the last fiscal year, but it does not include the grant-date value of new stock options and a one-time stock option grant.
chairman, president, CEO
Total compensation: $4,090,178 for the year ended April 30, 2016
Salary: $770,477
Non-equity incentive pay: $826,160
Other compensation: $46,872
Value realized on vesting shares: $2,446,669
New stock options: 292,698
Total fiscal 2016 shareholder return: -5.8 percent
Anderson took home $4.1 million for the last fiscal year, but it does not include the grant-date value of new stock options and a one-time stock option grant.
In June 2015, Patterson Cos. acquired Animal Health International Inc. for $1.1 billion and less than a month later sold its medical rehabilitation business for $715 million. The deals effectively increased the size of Patterson Cos. and shifted its focus to the dental and veterinary markets.
The board of directors granted Anderson and other executives a special one-time grant of "premium priced" stock options to reflect the company's acquisition of Animal Health. Those options are designed to reward executives for the acquisition.
Stock options are generally priced at the market price on the date of grant and given a three-year vesting schedule with a 10-year expiration.
Anderson's 250,000 premium-priced options were granted on July 1 when the company's share price was $49.27. The special options were then priced at a 15 percent premium, or $56.66. The longer vesting schedule and premium price requires "sustained stock price performance growth to remain in-the-money," according to the company's proxy, which was filed last Friday.
Anderson also received 42,698 options as part of the company's long-term equity incentive plan that were priced at $49.27
The university is changing an elective course while still working with the Eden Prairie-based health care giant after students raised concerns.
