La-Z-Boy CEO Melinda Whittington's 2022 pay jumps 165% to $5.8M
La-Z-Boy reports 2022 executive compensation
By ExecPay News
Published: July 20, 2022
La-Z-Boy reported fiscal year 2022 executive compensation information on July 20, 2022.
In 2022, five La-Z-Boy executives received on average a compensation package of $2.5M, a 9% decrease compared to previous year.
Average pay of disclosed executives at La-Z-Boy
Melinda D. Whittington, Chief Executive Officer, received $5.8M in total, which increased by 165% compared to 2021. 25% of Whittington's compensation, or $1.4M, was in stock awards. Whittington also received $1.4M in non-equity incentive plan, $1.3M in option awards, $913K in salary, as well as $760K in other compensation.
For fiscal year 2022, the median employee pay was $40,021 at La-Z-Boy. Therefore, the ratio of Melinda D. Whittington's pay to the median employee pay was 145 to one.
Darrell D. Edwards, Chief Operating Officer, received a compensation package of $2.2M, which increased by 3% compared to previous year. 27% of the compensation package, or $591K, was in non-equity incentive plan.
Robert G. Lucian, Chief Financial Officer, earned $1.9M in 2022.
Otis S. Sawyer, Senior Vice President and President of La-Z-Boy Portfolio Brands, received $1.6M in 2022, which increases by 4% compared to 2021.
Raphael Z. Richmond, General Counsel, earned $1M in 2022.
La-Z-Boy's fiscal year ends on April 30.
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Source: SEC filing on July 20, 2022.