Did We Say $1.5 Million? We Meant $10.9 Million. Firms Fix CEO Pay Flubs
By: Wall Street Journal
May 30, 2018
When Laboratory Corp. of America LH 3.61% disclosed pay for its chief executive in March, the company said he made $1.5 million in 2016. A week later, the diagnostic-lab chain filed a new document listing his pay at $10.9 million.
Chief Executive David King didn’t get a retroactive raise. His employer just proofread its work.
Such a big discrepancy is unusual, but LabCorp isn’t the only big company to make significant adjustments to past pay disclosures. At least 16 companies in the S&P 500 have changed 2016 pay figures by more than 10% for one or more executives, while 17 did so for 2015 pay, a Wall Street Journal analysis of data from MyLogIQ LLC shows. (See the WSJ’s analysis of compensation for all S&P 500 CEOs.)
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