Jay S. Fishman, chairman and CEO of The Travelers Cos., received a $40.66 million pay package last year, up 36 percent from his $29.87 million compensation in 2012, according to documents filed Friday with the U.S. Securities and Exchange Commission.
Fishman was paid a $1 million salary, $7.5 million in non-equity incentive pay, $106,007 in “other compensation,” $21.8 million from exercising options and $10.24 million from stock vested. Separately, he received stock-and-option awards valued at $9 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 Jay S. Benet received $13.89 million last year, not including stock-and-option awards valued at $2.28 million when they were distributed. The value of those awards depends on the company’s performance.
Chief Operating Officer and President Brian W. MacLean received $7.78 million, not including stock-and-option awards valued at $3 million.
Chief Investment Officer William H. Heyman received $12.27 million, not including $2.28 million in stock-and-option awards.
Alan D. Schnitzer, chief legal officer and vice chair of Financial, Professional & International Insurance, received $6.13 million, not including stock-and-option awards valued at $2.28 million.