Popular CEO Ignacio Alvarez's 2018 pay jumps 54% to $4.4M
Popular reports 2018 executive compensation
By ExecPay News
Published: March 20, 2019
Popular reported fiscal year 2018 executive compensation information on March 20, 2019.
In 2018, five Popular executives received on average a compensation package of $2.7M, a 11% increase compared to previous year.
Average pay of disclosed executives at Popular
Ignacio Alvarez, Chief Executive Officer, received $4.4M in total, which increased by 54% compared to 2017. 38% of Alvarez's compensation, or $1.7M, was in stock awards. Alvarez also received $46K in bonus, $1.7M in non-equity incentive plan, $1M in salary, as well as $41K in other compensation.
For fiscal year 2018, the median employee pay was $36,443 at Popular. Therefore, the ratio of Ignacio Alvarez's pay to the median employee pay was 121 to one.
Richard L. Carrión, Chairman, received a compensation package of $4M, which decreased by 18% compared to previous year. 34% of the compensation package, or $1.4M, was in non-equity incentive plan.
Carlos J. Vázquez, Chief Financial Officer, earned $2M in 2018, a 12% increase compared to previous year.
Javier D. Ferrer, Chief Legal Officer, received $1.7M in 2018, which increases by 16% compared to 2017.
Lidio V. Soriano, Executive Vice President and Chief Risk Officer, earned $1.5M in 2018, a 15% increase compared to previous year.
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Source: SEC filing on March 20, 2019.