Medtronic CEO Omar Ishrak's 2020 pay slips 17% to $15M
Medtronic reports 2020 executive compensation
By ExecPay News
Published: August 14, 2020
Medtronic reported fiscal year 2020 executive compensation information on August 14, 2020.
In 2020, six Medtronic executives received on average a compensation package of $6.7M, a 12% decrease compared to previous year.
Average pay of disclosed executives at Medtronic
Omar Ishrak, Chief Executive Officer, received $15M in total, which decreased by 17% compared to 2019. 31% of Ishrak's compensation, or $4.7M, was in stock awards. Ishrak also received $286K of change in pension value and nonqualified deferred compensation earnings, $3.4M in non-equity incentive plan, $4.7M in option awards, $1.7M in salary, as well as $80K in other compensation.
For fiscal year 2020, the median employee pay was $62,286 at Medtronic. Therefore, the ratio of Omar Ishrak's pay to the median employee pay was 238 to one.
Geoffrey S. Martha, President, received a compensation package of $6.3M, which increased by 51% compared to previous year. 37% of the compensation package, or $2.3M, was in option awards.
Michael J. Coyle, Executive Vice President and Group President, Cardiac and Vascular Group, earned $5.2M in 2020, a 15% decrease compared to previous year.
Hooman C. Hakami, Former Executive Vice President and President, Diabetes, received $5.2M in 2020.
Karen L. Parkhill, Chief Financial Officer, earned $4.8M in 2020, a 9% decrease compared to previous year.
Bradley E. Lerman, General Counsel, received $3.9M in 2020, which decreases by 14% compared to 2019.
Medtronic's fiscal year ends on April 24.
Related executives
Omar Ishrak
Medtronic
Chief Executive Officer
Karen Parkhill
Medtronic
Chief Financial Officer
Geoffrey Martha
Medtronic
President
Michael Coyle
Medtronic
Executive Vice President and Group President, Cardiac and Vascular Group
Bradley Lerman
Medtronic
General Counsel
Hooman Hakami
Medtronic
Former Executive Vice President and President, Diabetes
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Source: SEC filing on August 14, 2020.