Prudential Financial CEO’s Pay Last Year Was Up 36% To $24.7 Million

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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.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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