Robert McDonald, chairman, president and chief executive officer of Procter & Gamble Co., logged total compensation of $15.2 million last year, a 6.1 percent drop attributed to a smaller payout under an incentive program and a lower valuation for stock grants.
McDonald’s salary for the year ended June 30 was unchanged at $1.6 million, but his payout under the firm’s Short-Term Achievement Reward program fell to $2.4 million from $2.6 million, according to a filing with the Securities and Exchange Commission today.
The ceo’s pay also included $6.4 million in stock awards, down from $5.6 million a year earlier, and options valued at $4.4 million, down from $6.2 million. The value of stock and option awards might not be realized given vesting schedules and fluctuations in P&G’s share price.
McDonald received $312,559 in other compensation, up from $184,424 a year earlier. That increase was attributed primarily to the cost of air travel and the company said in a statement that the ceo “is required by the board to use company aircraft for all air travel, including personal travel.”
P&G said 89 percent of McDonald’s pay is tied to company performance.