Washington Trust Bancorp reports 2018 executive compensation

CEO Edward O. Handy III receives $1.7M

Washington Trust Bancorp reported fiscal year 2018 executive compensation information on March 12, 2019.

In 2018, seven executives at Washington Trust Bancorp received on average a compensation package of $695,454, a 35% decrease compared to previous year.

Average pay of disclosed executives at Washington Trust Bancorp

Edward O. Handy III, Chief Executive Officer, received $1,714,555 in total, which increased by 82% compared to 2017. 40.18% of Handy's compensation, or $688,867, was in stock awards. Handy also received $355,781 in non-equity incentive plan, $575,000 in salary, as well as $94,907 in other compensation.

For fiscal year 2018, the median employee pay was $62,366 at Washington Trust Bancorp. Therefore, the ratio of Edward O. Handy III's pay to the median employee pay was 27 to one.

Mark K.W. Gim, Chief Operating Officer, received a compensation package of $987,310, which decreased by 4% compared to previous year. 34.54% of the compensation package, or $341,016, was in stock awards.

Kathleen A. Ryan, Executive Vice President and Chief Wealth Management Officer of the Bank, earned $621,912 in 2018.

Ronald S. Ohsberg, Chief Financial Officer, received $607,259 in 2018.

James M. Hagerty, Executive Vice President and Chief Lending Officer of the Bank, earned $589,755 in 2018, a 5% increase compared to previous year.

Joseph J. MarcAurele, Chief Executive Officer, received $292,776 in 2018, which decreases by 81% compared to 2017.

David V. Devault, Chief Financial Officer, earned $54,608 in 2018, a 96% decrease compared to previous year.