AutoNation Inc. CEO Mike Jackson is getting a salary increase for the first time since 2002.
Jackson will be paid a base salary of $1.25 million in 2014, AutoNation, the country’s largest dealership group, said in its proxy filing today. That’s a $100,000 gain over his salary for the previous 12 years.
Despite Jackson’s flat salary, his overall compensation has varied during that time because of bonuses, stock options and allowances.
In 2013, Jackson’s overall pay dropped slightly. He made $6.28 million, down from $6.55 million in 2012. In addition to his salary, Jackson received a bonus of $1.65 million in 2013, down from $2.06 million the prior year. But the value of stock options awarded to Jackson last year rose to $3.32 million.
AutoNation’s No. 2 executive, COO Mike Maroone, also received a slightly lower pay package in 2013. Maroone received total compensation of $5.05 million, down from $5.11 million in 2012. His salary of $1 million was unchanged. His bonus was $1.07 million, down from $1.34 million. The value of stock options awarded to Maroone was $2.66 million, up from $2.53 million.
The compensation packages also include items such as aircraft and vehicle allowances. Jackson received $164,951 and Maroone received $319,425 in such compensation last year.
According to the proxy, AutoNation slightly bettered its 2013 targets for the performance metrics that guide executive compensation. The bonuses were higher in 2012 because the company beat its performance metric targets for that year by a larger margin.
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