Live Oak Bancshares President, Bank M Garriott's 2021 pay jumps 1,803% to $26M
Live Oak Bancshares reports 2021 executive compensation
By ExecPay News
Published: April 1, 2022
Live Oak Bancshares reported fiscal year 2021 executive compensation information on April 1, 2022.
In 2021, six executives at Live Oak Bancshares received on average a compensation package of $8.3M, a 839% increase compared to previous year.
Average pay of disclosed executives at Live Oak Bancshares
M. Huntley Garriott, Jr, President, Bank, received $26M in total, which increased by 1,803% compared to 2020. 96% of Garriott's compensation, or $25M, was in stock awards. Garriott also received $83K in bonus, $803K in salary, as well as $169K in other compensation.
For fiscal year 2021, the median employee pay was $94,806 at Live Oak Bancshares. Therefore, the ratio of M. Huntley Garriott, Jr's pay to the median employee pay was 278 to one.
William C. Losch III, Chief Financial Officer, received a compensation package of $13M. 97% of the compensation package, or $13M, was in stock awards.
Renato Derraik, Chief Information and Digital Officer, Bank, earned $8M in 2021.
Neil L. Underwood, President, received $979K in 2021, which increases by 19% compared to 2020.
James S. Mahan III, Chief Executive Officer, earned $884K in 2021, a 8% increase compared to previous year.
S. Brett Caines, Chief Financial Officer, received $602K in 2021, which decreases by 7% compared to 2020.
Related executives
James Mahan
Live Oak Bancshares
Chief Executive Officer
S Caines
Live Oak Bancshares
Chief Financial Officer
William Losch
Live Oak Bancshares
Chief Financial Officer
Renato Derraik
Live Oak Bancshares
Chief Information and Digital Officer, Bank
M Garriott
Live Oak Bancshares
President, Bank
Neil Underwood
Live Oak Bancshares
President
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Source: SEC filing on April 1, 2022.