Legg Mason CEO Joseph Sullivan's 2019 pay rises 3% to $10M
Legg Mason reports 2019 executive compensation
By ExecPay News
Published: June 20, 2019
Legg Mason reported fiscal year 2019 executive compensation information on June 20, 2019.
In 2019, five Legg Mason executives received on average a compensation package of $4.1M, a 2% increase compared to previous year.
Average pay of disclosed executives at Legg Mason
Joseph A. Sullivan, Chief Executive Officer, received $10M in total, which increased by 3% compared to 2018. 58% of Sullivan's compensation, or $5.7M, was in stock awards. Sullivan also received $3.4M in bonus, $500K in salary, as well as $320K in other compensation.
For fiscal year 2019, the median employee pay was $165,165 at Legg Mason. Therefore, the ratio of Joseph A. Sullivan's pay to the median employee pay was 60 to one.
Peter H. Nachtwey, Chief Financial Officer, received a compensation package of $3.5M, which increased by 1% compared to previous year. 44% of the compensation package, or $1.6M, was in stock awards.
Thomas K. Hoops, Executive Vice President, earned $2.9M in 2019, a 1% decrease compared to previous year.
Thomas C. Merchant, General Counsel, received $2.1M in 2019, which increases by 4% compared to 2018.
Frances L. Cashman, Executive Vice President, earned $2.1M in 2019.
Legg Mason's fiscal year ends on March 31.
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Source: SEC filing on June 20, 2019.