Progressive CEO Susan Griffith's 2020 pay rises 8% to $15M
Progressive reports 2020 executive compensation
By ExecPay News
Published: March 29, 2021
Progressive reported fiscal year 2020 executive compensation information on March 29, 2021.
In 2020, five executives at Progressive received on average a compensation package of $5.9M, a 19% increase compared to previous year.
Average pay of disclosed executives at Progressive
Susan Patricia Griffith, Chief Executive Officer, received $15M in total, which increased by 8% compared to 2019. 62% of Griffith's compensation, or $9.5M, was in stock awards. Griffith also received $4.7M in non-equity incentive plan, $981K in salary, as well as $32K in other compensation.
For fiscal year 2020, the median employee pay was $72,368 at Progressive. Therefore, the ratio of Susan Patricia Griffith's pay to the median employee pay was 210 to one.
John P. Sauerland, Chief Financial Officer, received a compensation package of $4.9M, which increased by 7% compared to previous year. 46% of the compensation package, or $2.3M, was in stock awards.
Patrick K. Callahan, Personal Lines President, earned $3.9M in 2020, a 19% increase compared to previous year.
John A. Barbagallo, Commercial Lines President, received $2.8M in 2020, which increases by 7% compared to 2019.
Michael D. Sieger, Claims President, earned $2.8M in 2020, a 8% increase compared to previous year.
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Source: SEC filing on March 29, 2021.