CEO Pay Watch: Robert Biesterfeld, president and CEO, C.H. Robinson Worldwide Inc.
C.H. Robinson's CEO earns $13.8 million
C.H. Robinson helped customers deal with supply chain issues and shipping constraints leading to record results. Its CEO's pay went from $1.4 million to $13.8 million.
March 24, 2022 at 1:19AM
- Total compensation for the year ended Dec. 31, 2021: $13,849,284
- Salary: $1,066,346
- Non-equity incentive pay: $3,225,000
- Other compensation: $17,400
- Value realized on vesting shares: $9,540,538
- CEO pay ratio: 178 to 1
- Median employee pay: $57,391
- Total 2021 shareholder return: 17.2%
Note: Eden Prairie-based C.H. Robinson is the world's largest third-party logistics company and helping clients navigate supply chain challenges and shipping constraints was big business in 2021.
The company's revenue grew 42.5% to $23.1 billion and earnings per share increased 69.6% to $6.31 a share. Those results helped Biesterfeld earn the maximum annual cash incentive bonuses for the year — and a big boost in the value realized from previously issued equity awards.
Biesterfeld's total compensation in the year, $13.8 million, grew from $1.4 million in 2020. His $3.2 million cash incentive pay was up from $468,000 in 2020 and was based on adjusted pre-tax income.
Executives at C.H. Robinson get time-based and performance-based restricted stock awards and 2021's performance helped increase the value of those multi-year awards. Biesterfeld realized $9.5 million from equity awards that were granted in previous years.
New long-term equity awards granted in 2021 will be realized in future years based on company performance and how well the company's stock does. In 2021 the company changed the equity mix and did not issue new stock options instead granted time-based and performance-based restricted stock. The performance shares will be based on EPS and adjusted gross profit growth over the next three years.
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