UPS gives 10% raises to CEO and three other top executives

The shipping giant, which is Louisville’s single-biggest private employer, said the pay increases to their base salaries were meant to “improve the competitiveness of UPS executive compensation,” according to a filing Friday with the Securities and Exchange Commission.

In addition to the 10% raises to their base pay, the executives also received thousands of stock options. The pay increases are effective Oct. 1. The executives and their base salaries last year:

  • Chairman and CEO David Abney, $1 million.
  • CFO Richard Peretz, $382,431.
  • Alan Gershenhorn, chief commercial officer, $550,125.
  • Myron Gray, president of U.S. operations, $484,251.
David Abney
Abney

Abney got 37,617 options. Peretz, Gershenhorn, and Gray each receive 7,807. All the options have an exercise price of $106.86, Friday’s closing price. They vest at a rate of 20% annually starting Sept. 16, 2017.

Also, Jim Barber, president of international operations, got 7,807 options, too, but no increase in his base pay, according to the SEC filing.

UPS employs 22,000 workers at its Louisville International Airport hub; more about the shipper’s local operations.

Related: See total top executive compensation last year for major Louisville-area employers in our exclusive database.

You may post a comment anonymously simply by leaving all the fields blank. But please: no personal attacks.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s