In a Bumper Year for CEO Pay, One Chief’s $161 Million Award Swells to $1.3 Billion
Chip maker Broadcom gave Hock Tan, its chief executive, a $161 million stock award, instantly landing him among the highest-paid CEOs.
His payday could end up being even bigger, thanks to a surge in the company’s share price. Lately, the market has valued the underlying shares at roughly $1.3 billion.
The gains are revealed in new disclosures imposed by the Securities and Exchange Commission starting last year, including a measure of how much executives’ equity awards changed in value during the year. Previously, companies generally disclosed the value of such awards at the time of the grant.
Overall, pay for the top executives at 187 S&P 500 companies raced toward a new high in 2023, rebounding from sluggish growth in 2022, a Wall Street Journal analysis of pay data from MyLogIQ shows.
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