CVB Financial CEO Christopher Myers' 2018 pay jumps 270% to $7.7M
CVB Financial reports 2018 executive compensation
By ExecPay News
Published: April 4, 2019
CVB Financial reported fiscal year 2018 executive compensation information on April 4, 2019.
In 2018, five executives at CVB Financial received on average a compensation package of $2.3M, a 142% increase compared to previous year.
Average pay of disclosed executives at CVB Financial
Christopher D. Myers, Chief Executive Officer, received $7.7M in total, which increased by 270% compared to 2017. 65% of Myers' compensation, or $5M, was in stock awards. Myers also received $160K in bonus, $254K of change in pension value and nonqualified deferred compensation earnings, $880K in non-equity incentive plan, $507K in option awards, $828K in salary, as well as $78K in other compensation.
For fiscal year 2018, the median employee pay was $59,398 at CVB Financial. Therefore, the ratio of Christopher D. Myers' pay to the median employee pay was 130 to one.
David A. Brager, EVP, Sales Division Manager of the Bank, received a compensation package of $1.1M, which increased by 40% compared to previous year. 33% of the compensation package, or $354K, was in stock awards.
David C. Harvey, EVP, Chief Operations Officer of the Bank, earned $1M in 2018, a 41% increase compared to previous year.
E. Allen Nicholson, Chief Financial Officer, received $907K in 2018, which increases by 33% compared to 2017.
David F. Farnsworth, EVP, Chief Credit Officer of the Bank, earned $677K in 2018, a 49% increase compared to previous year.
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Source: SEC filing on April 4, 2019.