Medtronic CEO Omar Ishrak's 2019 pay rises 1% to $18M
Medtronic reports 2019 executive compensation
By ExecPay News
Published: August 16, 2019
Medtronic reported fiscal year 2019 executive compensation information on August 16, 2019.
In 2019, five Medtronic executives received on average a compensation package of $7.6M, which is about the same as previous year.
Average pay of disclosed executives at Medtronic
Omar Ishrak, Chief Executive Officer, received $18M in total, which increased by 1% compared to 2018. 38% of Ishrak's compensation, or $6.7M, was in non-equity incentive plan. Ishrak also received $256K of change in pension value and nonqualified deferred compensation earnings, $4.5M in option awards, $1.7M in salary, $4.5M in stock awards, as well as $101K in other compensation.
For fiscal year 2019, the median employee pay was $74,206 at Medtronic. Therefore, the ratio of Omar Ishrak's pay to the median employee pay was 240 to one.
Michael J. Coyle, Executive Vice President and Group President, Cardiac and Vascular Group, received a compensation package of $6.1M, which increased by 8% compared to previous year. 34% of the compensation package, or $2.1M, was in non-equity incentive plan.
Karen L. Parkhill, Chief Financial Officer, earned $5.2M in 2019, a 44% increase compared to previous year.
Bradley E. Lerman, General Counsel, received $4.5M in 2019, which increases by 3% compared to 2018.
Geoffrey S. Martha, Group President, earned $4.2M in 2019.
Medtronic's fiscal year ends on April 24.
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Source: SEC filing on August 16, 2019.