3M Company CEO Michael Roman's 2021 pay slips 12% to $18M
3M Company reports 2021 executive compensation
By ExecPay News
Published: March 23, 2022
3M Company reported fiscal year 2021 executive compensation information on March 23, 2022.
In 2021, five 3M Company executives received on average a compensation package of $8.1M, a 2% increase compared to previous year.
Average pay of disclosed executives at 3M Company
Michael F. Roman, Chief Executive Officer, received $18M in total, which decreased by 12% compared to 2020. 29% of Roman's compensation, or $5.3M, was in option awards. Roman also received $3M of change in pension value and nonqualified deferred compensation earnings, $3.1M in non-equity incentive plan, $1.3M in salary, $5.3M in stock awards, as well as $252K in other compensation.
For fiscal year 2021, the median employee pay was $71,821 at 3M Company. Therefore, the ratio of Michael F. Roman's pay to the median employee pay was 253 to one.
Monish Patolawala, Executive Vice President, Chief Financial and Transformation Officer, received a compensation package of $9.4M, which increased by 17% compared to previous year. 61% of the compensation package, or $5.7M, was in stock awards.
Michael G. Vale, Group President, earned $4.3M in 2021, a 27% decrease compared to previous year.
Mojdeh Poul, Group President, received $4.2M in 2021, which increases by 23% compared to 2020.
Ashish K. Khandpur, Group President, earned $4.2M in 2021, a 22% decrease compared to previous year.
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Source: SEC filing on March 23, 2022.