Express Scripts Inc. CEO Compensation Jumps 50 Percent
3/29/2013 7:13:56 AM
Express Scripts Holding Co. gave Chairman and CEO George Paz a 50 percent hike in total compensation for 2012, a year in which the nation’s largest pharmacy benefits manager polished off a $29 billion acquisition, patched a key partnership and saw its stock price climb 21 percent. Paz, 57, received compensation valued at $12.8 million, according to the St. Louis company’s annual proxy statement filed Thursday with the Securities and Exchange Commission. That’s up from $8.5 million in 2011, when the executive received no bonuses after adjusted earnings fell short of the company’s target. For 2012, Paz received a $3.4 million performance-related bonus and a 10 percent increase in salary to $1.2 million. Express Scripts also gave its leader $8 million in stock and option awards, up from $7.2 million in 2011. Paz has served as Express Scripts CEO since 2005 and as chairman since 2006.