Lauren’s total compensation for the year ended April 1 fell 24 percent to $13 million from $17.2 million in fiscal year 2016. In contrast, his salary a year ago was a 28.4 percent drop from fiscal 2015’s total compensation of nearly $24 million. Lauren’s base salary in 2017 of $1.75 million was a slight decline from the $1.78 million a year ago. Stock awards in the two years were the same at $11 million. One change was the $4.1 million in non-equity that he received last year, but not in the fiscal year that just ended. The balance of compensation was for personal benefits such as $65,037 for use of an automobile and driver and personal security and $200,000 for travel reimbursements.
Former president and chief executive officer Stefan Larsson saw his salary rise 46 percent to $16.2 million in fiscal year 2017. That was comprised of nearly $1.3 million as a base salary, nearly $9.5 million in stock awards and $4.2 million in non-equity incentive plan compensation. That compares with total compensation of $11.1 million in fiscal year 2016. While the components of his pay package were lower, he also received a sign-on bonus of nearly $2.8 million a year ago.
Their pay packages were detailed in a regulatory filing, the company’s proxy, with the Securities and Exchange Commission on Thursday.
Larsson left the company in May, one month after fiscal year 2017 ended. He is receiving $10 million over a two-year period as part of his severance package. He also has a non-compete clause in the employment agreement that he signed.