Median pay for top US CEOs rose 7.7% last year to a record $22.3 million, a new study found, as big stock awards helped the group stay ahead of inflation while US workers' pay fell behind
The study reviewed the 100 highest paid CEOs at U.S. public companies with revenue of $1 billion or more that reported compensation as of March 31. A similar review last yeara widely-used measure of inflation, rose 6.5% in the 12 months ended Dec 31, down from 7% in the year-earlier period.
Boosting the CEO's pay gains were stock awards that have become a centerpiece of U.S. executive compensation but not as much for employees. The median value of CEO's stock awards rose 20% to $13.8 million for 2022. Equilar director of research Courtney Yu said much of that was awarded at the start of last year, as companies looked to keep their top leaders in place.
Must of the pay, $25 million, reflected a one-time "leadership continuity grant" of restricted stock, Jefferies' proxy states. At the company's March 29 shareholder meeting only a slim majority, 59%, of votes cast backed the pay.
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