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Despite lower bonus, Belden CEO's total pay rises to $7.5 million

Despite lower bonus, Belden CEO's total pay rises to $7.5 million

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Belden CEO John Stroup

John Stroup, chairman, president and chief executive of Belden Inc.

Belden Chief Executive John Stroup got a below-target bonus last year, but his total reported pay rose 18% to $7.5 million.

The Clayton-based electronics manufacturer reported executive pay details in a proxy statement filed Monday. The biggest component of Stroup's pay was a $5.4 million stock award,  up from $4.4 million worth of stock and options in 2018.

Half of the stock award depends on Belden's cash flow and shareholder return over a three-year period. Because Belden badly underperformed its targets for the previous three years, executives' 2017 performance shares proved worthless.

Stroup's salary rose 3% to $920,250, and his bonus of $518,193 was just 43% of the target amount. In a letter included in the proxy statement, Belden's compensation committee says last year's performance "did not meet our expectations." It adds that "discipline on our executive compensation is what our stockholders expect and deserve."

Stroup's compensation also included a $550,611 increase in pension value and $13,900 in tax preparation costs.

The CEO earned 177 times as much as Belden's median worker, whose pay was calculated at $42,232.

Belden's earnings per share fell 3% last year but its share price rose 32%.

Here's what St. Louis CEOs were paid in 2018:

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