Live Oak Bancshares President, Bank M Garriott's 2020 pay falls 76% to $1.4M
Live Oak Bancshares reports 2020 executive compensation
By ExecPay News
Published: April 2, 2021
Live Oak Bancshares reported fiscal year 2020 executive compensation information on April 2, 2021.
In 2020, five executives at Live Oak Bancshares received on average a compensation package of $888K, a 46% decrease compared to previous year.
Average pay of disclosed executives at Live Oak Bancshares
M. Huntley Garriott, Jr, President, Bank, received $1.4M in total, which decreased by 76% compared to 2019. 58% of Garriott's compensation, or $800K, was in salary. Garriott also received $80K in bonus, $400K in stock awards, as well as $106K in other compensation.
For fiscal year 2020, the median employee pay was $123,768 at Live Oak Bancshares. Therefore, the ratio of M. Huntley Garriott, Jr's pay to the median employee pay was 11 to one.
James S. Mahan III, Chief Executive Officer, received a compensation package of $822K, which increased by 15% compared to previous year. 62% of the compensation package, or $511K, was in salary.
Neil L. Underwood, President, earned $821K in 2020, a 1% decrease compared to previous year.
Steven J. Smits, Chief Credit Officer, received $762K in 2020, which decreases by 4% compared to 2019.
S. Brett Caines, Chief Financial Officer, earned $651K in 2020, a 13% decrease compared to previous year.
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Source: SEC filing on April 2, 2021.