Dennis R. Glass, CEO of Lincoln National Corp., received a $9.65 million pay package last year, up 41 percent from his $6.85 million compensation in 2012, according to documents filed Friday with the U.S. Securities and Exchange Commission.
Lincoln National Corp. is marketed to customers as Lincoln Financial Group.
The 2013 compensation for Glass includes a $1.1 million salary, $4 million in non-equity pay, $739,083 in “other compensation,” $495,481 from exercising options, and $3.3 million in stock vested. Separately, he received stock-and-option awards valued at $6.34 million when they were distributed last year. The ultimate value of the stock-and-option awards depends on the company’s performance in the future.
Chief Financial Officer Randal J. Freitag received a pay package worth $1.97 million last year, not including stock-and-option awards valued at $1.34 million.
Charles C. Cornelio, president of Retirement Plan Services, received $2.86 million last year, not including stock-and-option awards valued at $1.06 million.
Wilford H. Fuller, president of Lincoln Financial Group Distribution, received $3.83 million last year, not including $1.18 million in stock-and-option awards.
Mark E. Konen, president of Insurance and Retirement Solutions, received $3.56 million, not including $1.58 million in stock-and-option awards.