Paychex CEO Martin Mucci's 2022 pay rises 15% to $11M
Paychex reports 2022 executive compensation
By ExecPay News
Published: September 2, 2022
Paychex reported fiscal year 2022 executive compensation information on September 2, 2022.
In 2022, five Paychex executives received on average a compensation package of $4.8M, a 20% increase compared to previous year.
Average pay of disclosed executives at Paychex
Martin Mucci, Chief Executive Officer, received $11M in total, which increased by 15% compared to 2021. 51% of Mucci's compensation, or $5.7M, was in stock awards. Mucci also received $2.4M in non-equity incentive plan, $1.9M in option awards, $1.1M in salary, as well as $18K in other compensation.
For fiscal year 2022, the median employee pay was $56,960 at Paychex. Therefore, the ratio of Martin Mucci's pay to the median employee pay was 194 to one.
John B. Gibson, Chief Operating Officer, received a compensation package of $3.6M, which increased by 44% compared to previous year. 43% of the compensation package, or $1.6M, was in stock awards.
Efrain Rivera, Chief Financial Officer, earned $3.4M in 2022, a 18% increase compared to previous year.
Michael E. Gioja, Senior Vice President of Information Technology and Product Development, received $3M in 2022, which increases by 20% compared to 2021.
Mark A. Bottini, Senior Vice President of Sales, earned $3M in 2022, a 19% increase compared to previous year.
Paychex's fiscal year ends on May 31.
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Source: SEC filing on September 2, 2022.