La-Z-Boy CEO Kurt Darrow's 2020 pay slips 20% to $5.3M
La-Z-Boy reports 2020 executive compensation
By ExecPay News
Published: July 21, 2020
La-Z-Boy reported fiscal year 2020 executive compensation information on July 21, 2020.
In 2020, five La-Z-Boy executives received on average a compensation package of $2.2M, a 11% decrease compared to previous year.
Average pay of disclosed executives at La-Z-Boy
Kurt L. Darrow, Chief Executive Officer, received $5.3M in total, which decreased by 20% compared to 2019. 38% of Darrow's compensation, or $2M, was in stock awards. Darrow also received $868K in non-equity incentive plan, $660K in option awards, $1M in salary, as well as $721K in other compensation.
For fiscal year 2020, the median employee pay was $38,115 at La-Z-Boy. Therefore, the ratio of Kurt L. Darrow's pay to the median employee pay was 138 to one.
Melinda D. Whittington, Chief Financial Officer, received a compensation package of $1.8M, which decreased by 28% compared to previous year. 30% of the compensation package, or $528K, was in salary.
Darrell D. Edwards, Chief Operating Officer, earned $1.7M in 2020, a 15% decrease compared to previous year.
Otis S. Sawyer, Senior Vice President and President of La-Z-Boy Portfolio Brands, received $1.3M in 2020, which decreases by 17% compared to 2019.
Stephen K. Krull, General Counsel, earned $1M in 2020.
La-Z-Boy's fiscal year ends on April 30.
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Source: SEC filing on July 21, 2020.