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:
29. Allied Healthcare Products Inc.
28. Peak Resorts
27. Reliv International
26. Avadel Pharmaceuticals
25. Enterprise Financial Services Corp.
24. Huttig Building Products, Inc.
23. Foresight Energy
22. Cass Information Systems
21. Build-A-Bear Workshop
20. Commerce Bancshares (John W. Kemper)
19. Aegion Corporation
18. Esco Technologies Inc.
16. Commerce Bancshares (David Kemper)
13. Edgewell Personal Care Co.
10. Reinsurance Group
8. Peabody Energy
5. Arch Coal
4. Post Holdings
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