MASSDEVICE ON CALL — Medtronic (NYSE:MDT) CEO Omar Ishrak saw a 35% bump in his compensation last year, due in large part to a major increase in his incentive award, according to an SEC filing.
Ishrak claimed $12.1 million in total compensation in 2014, compared with about $9 million in 2013. His base salary jumped only slightly, but his non-equity incentive plan compensation went from $2.4 million to $4.7 million, according to the filing.
Most of Ishrak’s compensation was in the form of stock options and the incentive award, which were based on revenue growth, earnings per share and cash flow over the course of the year, during which Medtronic stock rose more than 40%, America’s Markets reported.
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