Corning CEO Wendell Weeks' 2019 pay slips 4% to $14M
Corning reports 2019 executive compensation
By ExecPay News
Published: March 20, 2020
Corning reported fiscal year 2019 executive compensation information on March 20, 2020.
In 2019, five Corning executives received on average a compensation package of $6.5M, a 1% decrease compared to previous year.
Average pay of disclosed executives at Corning
Wendell P. Weeks, Chief Executive Officer, received $14M in total, which decreased by 4% compared to 2018. 32% of Weeks' compensation, or $4.5M, was of change in pension value and nonqualified deferred compensation earnings. Weeks also received $4M in non-equity incentive plan, $1.3M in option awards, $1.5M in salary, $2.4M in stock awards, as well as $634K in other compensation.
For fiscal year 2019, the median employee pay was $49,121 at Corning. Therefore, the ratio of Wendell P. Weeks' pay to the median employee pay was 291 to one.
Lawrence D. McRae, Chairman, received a compensation package of $4.8M, which increased by 6% compared to previous year. 38% of the compensation package, or $1.8M, was of change in pension value and nonqualified deferred compensation earnings.
David L. Morse, Chief Technology Officer, earned $4.5M in 2019, which is about the same as previous year.
R. Tony Tripeny, Chief Financial Officer, received $4.5M in 2019, which increases by 2% compared to 2018.
James P. Clappin, Executive Vice President, Corning Glass Technologies, earned $4.5M in 2019, a 1% decrease compared to previous year.
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Source: SEC filing on March 20, 2020.