New CFO of American Express Gets a Healthy Pay Package

As noted in a recent Fool news article, American Express (NYSE: AXP  ) has named Jeffrey Campbell as its new executive vice president and CFO, effective later this summer. In a current SEC filing, American Express detailed Campbell's pay package, which could total as much as $20.5 million when fully vested, including salary, incentives, grant awards, and restricted stock and options.

As per the SEC filing, Campbell's compensation will include a $1 million base salary and participation in American Express' annual incentive program with a "guidance value" of $3.5 million, though that is pro-rated for 2013, in addition to its long-term incentive program valued at $2.5 million in restricted stock and options. Campbell will receive his first long-term incentive award July 31 and will be fully vested by Q1 of 2016.

An American Express "portfolio grant" is also part of Campbell's compensation package. The grant, worth as much as $1.5 million, will be awarded upon hire and will be fully vested in February 2016.

In addition to the salary, incentive, and grant, Campbell will also be given "sign-on" compensation, including a portfolio grant vesting in February 2015 and valued at $3 million, and a sign-on grant of restricted stock and options valued at $5 million when received, vesting in three years. A sign-on cash award of $4 million, payable in two annual installments beginning on Campbell's first anniversary, and participation in American Express' executive benefit plans round out his compensation package.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2504241, ~/Articles/ArticleHandler.aspx, 10/20/2014 9:05:32 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement