Prudential Financial Inc. Chairman and CEO John R. Strangfeld was compensated $24.76 million last year, up 36 percent from the $18.16 million he received in 2012, according to a filing Tuesday with the U.S. Securities and Exchange Commission.
Prudential Financial of Newark, N.J., is the parent company of Prudential Retirement, which has offices at 280 Trumbull St. in Hartford.
Strangfeld’s 2013 compensation comprises: $1.4 million salary, $5.46 million bonus, $3 million in non-equity incentive pay, $87,923 in “other compensation,” $10.1 million in value realized on exercising options and $4.66 million in value realized on stocks vested. Separately, Strangfeld received stock-and-option awards valued at $6.75 million when distributed. The true value will depend on the company’s performance at the time the options are exercised and the stocks vested.
Chief Financial Officer Robert M. Falzon’s pay package was $3.46 million, not including $1.59 million in stock-and-option awards that will provide value in the future and depend on the company’s performance. Falzon was appointed in March 2013.
Former Chief Financial Officer Richard J. Carbone, who retired, was compensated $8.64 million, not including $1.59 million in stock-and-option awards.
Mark B. Grier, the company’s vice chairman who oversees many of the company’s functions, was compensated $21.9 million, not including $5.56 million in stock-and-option awards.
Edward P. Baird, chief operating officer of Prudential’s International Business, was compensated $6.4 million, not including $2.78 million in stock-and-option awards.
Charles F. Lowrey, president and chief operating officer of the U.S. operations, was compensated $7.7 million, not including $3.57 million in stock-and-option awards.