SNC-Lavalin chief executive gets $8.02M in compensation in first full year at helm
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $1.44 a week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $5.77 plus GST every four weeks. After 52 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 21/04/2021 (1863 days ago), so information in it may no longer be current.
MONTREAL – SNC-Lavalin’s chief executive received a big pay raise in his first full year at the helm of the engineering firm as his total compensation surpassed $8 million, according to a regulatory filing.
Ian Edwards’s total compensation rose to $8.02 million from $3.74 million in 2019 largely due to a big boost in share-based awards and a doubling of his annual bonus, which he converted to stock.
Edwards’s salary increased 8.3 per cent to $1.03 million and rose again in 2021 to $1.4 million. Share-based awards last year were valued at $5.6 million, up from nearly $2 million a year earlier.
SNC said $1.8 million of the stock awards came from a one-time grant in March that was deferred from 2019 because of restrictions in its insider-trading policy. It will vest over three years.
He also received a $1.07-million bonus, $216,462 pension value and $90,179 in other compensation, according to the proxy circular filed ahead of its annual meeting on May 14.
Edwards became CEO on Oct. 31, 2019, several months after he was appointed interim head upon the departure of Neil Bruce. He joined the company in 2014 as vice-president of infrastructure construction.
Chief financial officer Jeff Bell’s total compensation was $3.17 million while his predecessor, Sylvain Girard, saw his total compensation nearly double to $4.86 million.
Most of the increase for Girard, who left the company on Aug. 31, was the result of $2.4 million in other compensation.
This report by The Canadian Press was first published April 21, 2021.
Companies in this story: (TSX:SNC)