Illinois Tool Works CEO E Santi's 2019 pay slips 13% to $15M
Illinois Tool Works reports 2019 executive compensation
By ExecPay News
Published: March 27, 2020
Illinois Tool Works reported fiscal year 2019 executive compensation information on March 27, 2020.
In 2019, five executives at Illinois Tool Works received on average a compensation package of $6M, a 11% decrease compared to previous year.
Average pay of disclosed executives at Illinois Tool Works
E. Scott Santi, Chief Executive Officer, received $15M in total, which decreased by 13% compared to 2018. 37% of Santi's compensation, or $5.7M, was in option awards. Santi also received $666K of change in pension value and nonqualified deferred compensation earnings, $4.8M in non-equity incentive plan, $1.3M in salary, $2.9M in stock awards, as well as $79K in other compensation.
Christopher A. O'Herlihy, Chairman, received a compensation package of $4.9M, which increased by 1% compared to previous year. 31% of the compensation package, or $1.5M, was in option awards.
Michael M. Larsen, Chief Financial Officer, earned $4.4M in 2019, a 10% decrease compared to previous year.
John R. Hartnett, Executive Vice President, received $2.6M in 2019.
Steven L. Martindale, Executive Vice President, earned $2.5M in 2019, a 9% decrease compared to previous year.
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Source: SEC filing on March 27, 2020.