Travelers CEO Jay Fishman Received $40 Million Last Year, Up 36 Percent

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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.

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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