Illinois Tool Works CEO E Santi's 2020 pay slips 9% to $14M
Illinois Tool Works reports 2020 executive compensation
By ExecPay News
Published: March 26, 2021
Illinois Tool Works reported fiscal year 2020 executive compensation information on March 26, 2021.
In 2020, five executives at Illinois Tool Works received on average a compensation package of $5.5M, a 8% decrease compared to previous year.
Average pay of disclosed executives at Illinois Tool Works
E. Scott Santi, Chief Executive Officer, received $14M in total, which decreased by 9% compared to 2019. 42% of Santi's compensation, or $5.9M, was in option awards. Santi also received $663K of change in pension value and nonqualified deferred compensation earnings, $3.1M in non-equity incentive plan, $1.3M in salary, $2.9M in stock awards, as well as $70K in other compensation.
Christopher A. O'Herlihy, Chairman, received a compensation package of $4.8M, which decreased by 2% compared to previous year. 34% of the compensation package, or $1.6M, was in option awards.
Michael M. Larsen, Chief Financial Officer, earned $4.1M in 2020, a 7% decrease compared to previous year.
Steven L. Martindale, Executive Vice President, received $2.4M in 2020, which decreases by 3% compared to 2019.
John R. Hartnett, Executive Vice President, earned $2.3M in 2020, a 13% decrease compared to previous year.
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Source: SEC filing on March 26, 2021.