Patrick Industries CEO Andy Nemeth's 2021 pay rises 7% to $8M
Patrick Industries reports 2021 executive compensation
By ExecPay News
Published: April 11, 2022
Patrick Industries reported fiscal year 2021 executive compensation information on April 11, 2022.
In 2021, five executives at Patrick Industries received on average a compensation package of $4.6M, a 40% increase compared to previous year.
Average pay of disclosed executives at Patrick Industries
Andy L. Nemeth, Chief Executive Officer, received $8M in total, which increased by 7% compared to 2020. 51% of Nemeth's compensation, or $4.1M, was in stock awards. Nemeth also received $41K of change in pension value and nonqualified deferred compensation earnings, $3.1M in non-equity incentive plan, $743K in salary, as well as $28K in other compensation.
For fiscal year 2021, the median employee pay was $46,783 at Patrick Industries. Therefore, the ratio of Andy L. Nemeth's pay to the median employee pay was 172 to one.
Todd M. Cleveland, Chairman, received a compensation package of $5.4M, which decreased by 4% compared to previous year. 48% of the compensation package, or $2.6M, was in non-equity incentive plan.
Kip B. Ellis, Chief Operating Officer, earned $3.4M in 2021, a 4% decrease compared to previous year.
Jeffrey M. Rodino, President, received $3.3M in 2021, which increases by 16% compared to 2020.
Jacob R. Petkovich, Chief Financial Officer, earned $3.2M in 2021, a 12% increase compared to previous year.
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Source: SEC filing on April 11, 2022.