Richard Olson The Toro Co.

Chairman, president, CEO

Total compensation: $4,799,315 for the year ended Oct. 31, 2019

Salary: $925,000

Nonequity incentive pay: $606,939

Other compensation: $182,363

Exercised stock options: $449,898

Value realized on vesting shares: $2,635,115

New stock options: 137,100

CEO pay ratio: 109 to 1

Median pay: $48,319

Total fiscal 2019 shareholder return: 38.8%

Note: Toro completed its largest ever acquisition in fiscal 2019, the $700 million purchase of Oklahoma-based Charles Machine Works, and spent another $167 million in January to add small tractor and implement company Venture Products Inc.

Both deals added to the product portfolio of Bloomington-based Toro: Charles Machine Works added underground construction equipment and Ohio-based Venture Products Inc. added its Ventrac brand of small tractors that tackle tough terrain and add snow and ice management equipment.

Toro also delivered annual sales greater than $3 billion for the first time, but the revenue growth rate was below the threshold for one performance bonus target. That helped bring down Olson’s annual cash incentive pay from $919,803 in fiscal 2018 to $606,939 in fiscal 2019. Olson did realize $2.6 million from the performance share awards for the three years from 2017 to 2019 by exceeding the targets for that time period.

The performance share award and a $50,000 increase to his base salary helped increase his overall realized compensation, 70%, from $2.8 million to $4.8 million.

Patrick Kennedy