Genco Shipping & Trading CEO John Wobensmith's 2021 pay rises 20% to $2.6M
Genco Shipping & Trading reports 2021 executive compensation
By ExecPay News
Published: April 15, 2022
Genco Shipping & Trading reported fiscal year 2021 executive compensation information on April 15, 2022.
In 2021, four executives at Genco Shipping & Trading received on average a compensation package of $1.2M, a 24% increase compared to previous year.
Average pay of disclosed executives at Genco Shipping & Trading
John C. Wobensmith, Chief Executive Officer, received $2.6M in total, which increased by 20% compared to 2020. 38% of Wobensmith's compensation, or $1M, was in non-equity incentive plan. Wobensmith also received $300K in option awards, $650K in salary, $600K in stock awards, as well as $69K in other compensation.
For fiscal year 2021, the median employee pay was $190,700 at Genco Shipping & Trading. Therefore, the ratio of John C. Wobensmith's pay to the median employee pay was 14 to one.
Apostolos D. Zafolias, Chief Financial Officer, received a compensation package of $954K, which increased by 40% compared to previous year. 42% of the compensation package, or $402K, was in non-equity incentive plan.
Robert Hughes, Chief Operations Officer, earned $646K in 2021, a 23% increase compared to previous year.
Joseph Adamo, Chief Accounting Officer, received $510K in 2021, which increases by 16% compared to 2020.
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Source: SEC filing on April 15, 2022.