Monsanto’s proxy statement, filed last week, credits Chief Executive Hugh Grant with $15.6 million of total compensation in the latest fiscal year, up from $11.0 million in fiscal 2007. Grant’s salary rose 10 percent, to $1.29 million, and his annual bonus rose 12 percent to $3.33 million, which was close to the maximum he could earn for “outstanding” performance.
The St. Louis Post-Dispatch reports that Grant’s pay tally sheet also shows that there were $3.9 million worth of stock and $6.4 million worth of options, but those were accounting-driven figures for awards he has received over the years. During the fiscal year, he got restricted stock units worth $3.5 million and new options valued at $4.4 million.
His perquisites included $110,543 worth of personal aircraft use, along with $23,844 for home security, club dues, and tickets to cultural and sporting events.
If Grant loses his job following a change of control, he’s entitled to more than $40 million. That includes severance of $11 million, and $26 million for his options and restricted stock units.
