2: Stuart A. Miller, Lennar
Lennar's Staurt Miller got an overall compensation boost of more than 30%, keeping him the second highest-paid CEO among public home builders for the last two years.
A. Miller, Lennar Corporation||2014 Salary||% Total|
|% Change Vs.
| || || |
|Change in Pension Value||0||0.00%|
|All Other Comp||8,410||0.05%|
|TOTAL COMP||17,909,543|| |
was unchanged from 2013.
The amount of
stock awards ticked up to $4,360,720, from $4,266,000 last year; and the
amount of his non-equity incentive plan compensation was up from the
$8,314,050 achieved in 2013.
94% of his total direct compensation (salary, annual incentive and
long-term incentive) for fiscal 2014 was variable and tied directly to the
financial performance of the company, including: revenues of $7.8 billion, up 31% year-over-year; deliveries of 21,003 homes, up 15%; new orders of 22,029 homes, up 16%; and revenues from home sales, which shot up 29% to $6.8 billion.
The company does
not cap cash bonuses. Miller was eligible to receive cash bonuses equal to
1.25% of the company’s pretax income. Based on the company’s pre-tax
income of $1 billion, that amounted to $12,540,413
On the stock
awards, the company bases the decisions on recommendations of its senior
management and Compensation Committee: “when considering the number of
shares to award, the Compensation Committee did not assign a specific
weight to any individual factor,” nor does it compare it to the company’s