Hormel Foods CEO James Snee's 2019 pay jumps 31% to $8.3M
Hormel Foods reports 2019 executive compensation
By ExecPay News
Published: December 18, 2019
Hormel Foods reported fiscal year 2019 executive compensation information on December 18, 2019.
In 2019, five executives at Hormel Foods received on average a compensation package of $3.9M, a 42% increase compared to previous year.
Average pay of disclosed executives at Hormel Foods
James P. Snee, Chief Executive Officer, received $8.3M in total, which increased by 31% compared to 2018. 40% of Snee's compensation, or $3.3M, was in non-equity incentive plan. Snee also received $400 in bonus, $1.1M of change in pension value and nonqualified deferred compensation earnings, $2.8M in option awards, $933K in salary, as well as $184K in other compensation.
For fiscal year 2019, the median employee pay was $45,086 at Hormel Foods. Therefore, the ratio of James P. Snee's pay to the median employee pay was 185 to one.
Thomas R. Day, Executive Vice President, received a compensation package of $3.4M, which increased by 69% compared to previous year. 37% of the compensation package, or $1.3M, was of change in pension value and nonqualified deferred compensation earnings.
James N. Sheehan, Chief Financial Officer, earned $3M in 2019, a 54% increase compared to previous year.
Glenn R. Leitch, Executive Vice President, received $2.5M in 2019, which increases by 40% compared to 2018.
James M. Splinter, Group Vice President, earned $2.3M in 2019, a 41% increase compared to previous year.
Hormel Foods' fiscal year ends on October 30.
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Source: SEC filing on December 18, 2019.