Applied Industrial Technologies CEO Neil Schrimsher's 2022 pay slips 4% to $5.8M

Applied Industrial Technologies reports 2022 executive compensation

By ExecPay News

Published: September 9, 2022

Applied Industrial Technologies reported fiscal year 2022 executive compensation information on September 9, 2022.

In 2022, five executives at Applied Industrial Technologies received on average a compensation package of $2.3M, a 4% decrease compared to previous year.

Average pay of disclosed executives at Applied Industrial Technologies

Neil A. Schrimsher, Chief Executive Officer, received $5.8M in total, which decreased by 4% compared to 2021. 41% of Schrimsher's compensation, or $2.4M, was in stock awards. Schrimsher also received $1.6M in non-equity incentive plan, $609K in option awards, $930K in salary, as well as $272K in other compensation.

David K. Wells, Chief Financial Officer, received a compensation package of $1.6M, which increased by 3% compared to previous year. 34% of the compensation package, or $549K, was in non-equity incentive plan.

Fred D. Bauer, General Counsel, earned $1.3M in 2022, a 16% decrease compared to previous year.

Warren E. Hoffner, Vice President, General Manager - Fluid Power & Flow Control, received $1.3M in 2022, which decreases by 2% compared to 2021.

Kurt W. Loring, Chief Human Resources Officer, earned $1.2M in 2022, a 1% decrease compared to previous year.

Applied Industrial Technologies' fiscal year ends on June 30.