This Week
  • IV4 Inc. has managed to grow steadily over the years.

  • $6.8 million redevelopment project aims to help create unique neighborhood.

  • Shaina Sidoti's firm makes nutritious dishes that have helped her heal.

  • Michael Gioja is guiding information technology advances at Paychex Inc.

  • Changes to New York's estate tax have reduced the cost of dying here.

  • Area exporters starting 2014 with a sense of momentum.

Paychex CEO's pay increases 20%

Rochester Business Journal
September 17, 2012

Martin Mucci received a big raise this year.

Paychex Inc.’s president and CEO earned an annualized base salary of $800,000, up from the $666,000 he received last year. Paychex disclosed the salaries of Mucci and other top executives in a proxy statement filed with the SEC late Friday.

Mucci also was given $5.3 million in stock and options, up from $1.9 million last year.

His actual incentive compensation earned was $819,280, which the filing noted was lower than anticipated.

“For fiscal 2012, our CEO earned an annual incentive program payout of 85 percent of target and, on average, other applicable NEOs earned 84 percent of target,” the filing noted. “This compensation was less than target largely as the result of actual service revenue and annualized new business revenue that were lower than target.”

Mucci’s salary is below the median for CEOs in the company’s peer group, the filing reported.

In June, Paychex reported $2.2 billion in total revenue for the fiscal year ended May 31, a 7 percent increase from $2.1 billion of the prior year. Net income and diluted earnings per share increased 6 percent to $548 million and $1.51 per share, respectively.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google