La-Z-Boy CEO Kurt Darrow's 2021 pay jumps 28% to $6.7M
La-Z-Boy reports 2021 executive compensation
By ExecPay News
Published: July 8, 2021
La-Z-Boy reported fiscal year 2021 executive compensation information on July 8, 2021.
In 2021, five La-Z-Boy executives received on average a compensation package of $2.7M, a 25% increase compared to previous year.
Kurt L. Darrow, Chief Executive Officer, received $6.7M in total, which increased by 28% compared to 2020. 27% of Darrow's compensation, or $1.8M, was in non-equity incentive plan. Darrow also received $1.3M in option awards, $924K in salary, $1.5M in stock awards, as well as $1.1M in other compensation.
For fiscal year 2021, the median employee pay was $28,040 at La-Z-Boy. Therefore, the ratio of Kurt L. Darrow's pay to the median employee pay was 239 to one.
Melinda D. Whittington, Chief Financial Officer, received a compensation package of $2.2M, which increased by 25% compared to previous year. 29% of the compensation package, or $627K, was in non-equity incentive plan.
Darrell D. Edwards, Chief Operating Officer, earned $2.1M in 2021, a 25% increase compared to previous year.
Otis S. Sawyer, Senior Vice President and President of La-Z-Boy Portfolio Brands, received $1.5M in 2021, which increases by 21% compared to 2020.
Stephen K. Krull, General Counsel, earned $1.2M in 2021, a 19% increase compared to previous year.
La-Z-Boy's fiscal year ends on April 24.