RICHMOND, Va. (AP) — Marlboro maker Altria Group Inc. CEO Martin J. Barrington's pay package jumped to nearly $17.5 million for fiscal 2013.
That's according to an Associated Press analysis of a regulatory filing made by the owner of the nation's biggest cigarette maker, Philip Morris USA.
Most of the increase in Barrington's compensation was the payout of a long-term performance-based bonus of $8 million that ran from 2011 to 2013.
He received a salary of $1.19 million and an additional bonus of $2.5 million. The value of his stock awards was $5.4 million.
The Richmond-based company saw its profit grow 8.5 percent to $4.5 billion. Revenue excluding excise taxes rose slightly to $17.7 billion.
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.