Hormel Foods CEO James Snee's 2022 pay slips 5% to $9.5M
Hormel Foods reports 2022 executive compensation
By ExecPay News
Published: December 21, 2022
Hormel Foods reported fiscal year 2022 executive compensation information on December 21, 2022.
In 2022, six executives at Hormel Foods received on average a compensation package of $2.9M, a 16% decrease compared to previous year.
Average pay of disclosed executives at Hormel Foods
James P. Snee, Chief Executive Officer, received $9.5M in total, which decreased by 5% compared to 2021. 50% of Snee's compensation, or $4.7M, was in non-equity incentive plan. Snee also received $200 in bonus, $1.7M in option awards, $1M in salary, $1.8M in stock awards, as well as $244K in other compensation.
For fiscal year 2022, the median employee pay was $50,369 at Hormel Foods. Therefore, the ratio of James P. Snee's pay to the median employee pay was 188 to one.
Deanna T. Brady, Executive Vice President, received a compensation package of $2.2M, which is about the same as previous year. 41% of the compensation package, or $891K, was in non-equity incentive plan.
Jacinth C. Smiley, Chief Financial Officer, earned $2.1M in 2022, a 7% increase compared to previous year.
Lori J. Marco, Senior Vice President, received $1.5M in 2022, which decreases by 10% compared to 2021.
Mark A. Coffey, Group Vice President, earned $1.4M in 2022.
James N. Sheehan, Chief Financial Officer, received $638K in 2022, which decreases by 78% compared to 2021.
Hormel Foods' fiscal year ends on October 30.
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Source: SEC filing on December 21, 2022.