* Became CEO in fiscal 2016 NM = Not Measurable
Hunter Harrison will likely be Jacksonville’s highest-paid CEO this year, but proxy data filed by area publicly traded companies shows his predecessor at CSX Corp. was only the second-highest paid local chief executive in fiscal 2016.
Michael Ward received a compensation package worth $13.6 million as chief executive of CSX in 2016, but the highest-paid CEO was Gary Norcross of Fidelity National Information Services Inc., or FIS.
Norcross received a total package valued at $20 million in 2016, according to FIS’ proxy statement, which included large incentive payments for the company’s successful integration of SunGard Data Services Inc.
FIS acquired SunGard at the end of 2015 and the company has said it is ahead of schedule in achieving cost cuts from the combined operations of the two companies.
Although he is not a CEO, one other Jacksonville executive also received higher pay than Ward last year, Fidelity National Financial Inc. Chairman Bill Foley.
Fidelity (which spun off FIS as a separate company a decade ago) lists Foley’s compensation package at $14.4 million for 2016, but that includes money paid by another public company, Black Knight Financial Services Inc., because Fidelity still owns a majority stake in Black Knight.
Fidelity is planning to spin off its majority stake in Black Knight later this year.
The proxy statements of the two companies show Fidelity paid Foley $2.8 million, and Black Knight paid Foley $11.6 million in his role of executive chairman of that company.
CSX has not indicated the total value of Harrison’s pay package after he was hired as CEO in March but hedge fund Mantle Ridge, which backed Harrison, said the package is worth $17 million a year for four years.
Harrison also is likely to receive a one-time $84 million payment as reimbursement for compensation he forfeited when he left his previous position as CEO of Canadian Pacific Railway Ltd. to pursue the CSX job.
CSX shareholders will have an advisory vote on that payment at the company’s annual meeting next month.
The compensation chart shows the pay packages for every CEO of a Jacksonville area public company in the last fiscal year, according to Securities and Exchange Commission filings. Foley is not included in the chart because he is not a chief executive officer.
The chart includes the annual salary for each CEO and the total amount of other cash bonuses or incentive-related cash payments.
The total compensation includes those cash payments plus the estimated value of stock and stock option awards and other non-cash benefits they may have received.
The change represents the increase or decrease in total compensation package for each executive last year.
The chart includes Jacksonville area companies as well as two companies, Ameris Bancorp and GEE Group Inc., which are headquartered out of state but whose CEO works out of Jacksonville.