Fabrizio Freda, president and chief executive officer of the Estée Lauder Cos. Inc., saw his pay drop 36.7 percent to $13.6 million for the year ended June 30.
Freda’s take included a salary of $1.8 million, options valued at $3.1 million and incentive pay of $4.5 million, according to a filing with the Securities and Exchange Commission. The big change came in the area of stock awards, which declined to $3.5 million from $13.1 million a year ago.
The full value of stock and option awards, however, might never be realized given share price fluctuations and vesting schedules.
Elsewhere in Lauder’s executive suite, executive chairman William Lauder saw his compensation rise 16.9 percent to $9.5 million, while group president John Demsey’s pay increased 15.5 percent to $8.7 million.