Shareholders opposing the compensation won a say-on-pay vote at the company, and a majority also withheld votes from a director on the board’s compensation committee. Under Paycom’s governance guidelines, the director had to tender his resignation. The board’s nominating and corporate governance committee did not accept it, however, instead reaffirming his appointment, according to a company filing.
“That’s highly unusual,” said Mr. Varner of CtW Investment.
Asked whether Mr. Richison’s stock grant had fueled the shareholder discontent, Jason Clark, the chairman of Paycom’s compensation committee, said in statement: “This award is entirely dependent on Mr. Richison achieving aggressive performance goals — which will generate tremendous value for our stockholders.”
Amazon’s pay comes into sharper focus
Until now, Amazon has rarely featured in C.E.O. pay rankings because Jeff Bezos, its founder and one of the richest people in the world by virtue of his roughly $170 billion stake in the company, has taken relatively little in annual compensation. His pay as C.E.O. of $1.7 million last year was 58 times that of the median employee, a relatively low ratio.
But the reality is that the median Amazon employee, who made $29,007 last year, is paid well below the $80,833 received by the median employee in the Equilar survey. The Amazon pay ratio is low only because of Mr. Bezos’s modest annual compensation.
What’s more, Amazon’s median pay rose only $159 from 2019, although the company did supremely well in the pandemic, posting a hefty increase in sales and an 84 percent increase in profits.
Now, though, Mr. Bezos is stepping down as chief executive, to be replaced in July by Andrew Jassy, currently head of the company’s web services business. Last year Mr. Jassy earned $35.8 million, or 1,234 times that of the median worker. His new employment contract, when it appears, could reveal even higher compensation.
In a statement, Amazon said that for employees in the United States, where the company has three-fourths of its work force, median pay was $37,930 last year, up from $36,640 in 2019.
“Of the 400,000 employees who joined Amazon in 2020, 60 percent now make more than in their previous jobs, and 45 percent were unemployed before joining the company,” the company said.