Emerson Chief Executive David Farr took a temporary salary cut for six months this year, and his total pay fell 19% to $16.5 million.
The Ferguson-based manufacturer disclosed details of its executive pay in a t filed Monday. Farr and other top executives took a 15% salary cut between April and September to help Emerson weather the coronavirus pandemic.
That left Farr's salary for the fiscal year, which ended Sept. 30, at $1.3 million. He also got a $2.05 million bonus, down from $2.4 million in 2019.
The biggest chunk of Farr's pay was an $11.5 million stock award, which is contingent on meeting earnings and cash-flow targets for 2020, 2021 and 2022. A similar stock award from 2018 paid out at 100% of its estimated value, but Emerson said that payout level has happened only twice in the last decade, reflecting "the difficulty of achieving the targets set."
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Farr's compensation also included a $1.16 million increase in pension value and perquisites valued at $345,956. The latter benefits include $260,819 of personal flights on company aircraft, plus a company car, event tickets, club fees and financial planning services.
Emerson's earnings per share fell 13% for the fiscal year, but that included costs from a restructuring that was announced before the pandemic hit. Farr's leadership of Emerson through the pandemic, including efforts to keep supply lines open and make sure Emerson could pay its dividend, was the subject of a lengthy profile this month.
Farr says in the proxy statement that 2020 was "a defining moment in the history of our company," marked by obstacles but also by opportunities such as the acquisition of software company Open Systems International.
Here's what St. Louis CEOs earned in 2019:
Meet the 26 top-paid CEOs in St. Louis
26. Foresight Energy

Foresight Energy filed for Chapter 11 bankruptcy relief in March, joining Murray Energy, its parent coal company, in efforts to restructure amid continued industry turbulence.
25. Allied Healthcare Products

The medical supplies manufacturer is based on Sublette Avenue; the shares nearly tripled in value over two days in spring 2020.
24. Huttig Building Products

23. Enterprise Financial Services

Lally earned 20 times as much as the median Enterprise Financial employee. The bank calculated a median of $67,305 for its workers.
22. Avadel Pharmaceuticals

21. Build-A-Bear

Sharon John received more in 2019 than the previous year, but has taken a salary cut this year.
20. BellRing Brands

BellRing Brands is Post Holding’s active nutrition business. Its initial public offering was in October 2018.
19. Arch Coal

Eaves earned 28 times as much as Arch's median employee, whose pay the company calculates at $106,668. He is retiring effective April 30.
18. Cass Information Systems

17. Commerce Bancshares

Kemper earned 63 times as much as the median Commerce employee. The company calculated median pay of $58,414 for its 4,755 full-time, part-time and seasonal workers.
16. Aegion Corporation

In March 2020, the company announced that its CEO would take a 100% cash wage reduction; his base salary is nearly $707,000
15. Esco Technologies

14. Spire

Sitherwood earned 44 times as much as the median Spire employee. Median pay for the company's 3,536 workers was $103,826.
13. Perficient

Davis earned 61 times as much as the median Perficient employee. Median pay for the company's 3,000 workers was $98,094.
12. Energizer

Hoskins earned 192 times as much as his median employee, whose pay Energizer calculated at $35,464.
Energizer is a Fortune 1000 company.
11. Caleres

The median Caleres employee earned $23,767 last year, so Sullivan made 288 times as much as the typical worker. Caleres noted that a large number of its 11,379 employees are part-time, temporary or seasonal.
Caleres is a Fortune 1000 company.
10. Olin

Olin calculates that Fischer earned 67 times much as its median employee, whom it described as a lab technician earning $107,139.
Olin is a Fortune 500 company.
9. Belden

Stroup earned 177 times as much as Belden's median worker, whose pay was calculated at $42,232.
Belden is a Fortune 1000 company.
8. Peabody Energy

Peabody's median employee earned $113,592, so Kellow's pay was 67 times as high as that of a typical worker.
Peabody was a Fortune 500 company, but recently fell to a Fortune 1000 company.
7. Reinsurance Group

Manning earned 72 times as much as the median Reinsurance Group employee. The company calculated median pay of $113,479 for its 3,426 employees.
Reinsurance Group is a Fortune 500 company.
6. Stifel

Kruszewski earned 84 times as much as the median Stifel employee. The company calculated median pay of $97,326 for 9,960 employees.
Stifel Financial is on the Fortune 1000 list.
5. Ameren

Baxter earned 66 times as much as the median Ameren employee, whose pay the company calculated at $147,127.
Ameren is a Fortune 500 company.
4. Post Holdings

Vitale earned 169 times as much as a typical Post worker. The Brentwood-based food company calculated that its median employee earned $67,082.
Post Holdings is a Fortune 500 company.
3. Bunge

* The CEO was named as acting CEO on January 2019, so his previous salary wasn't used for the increase.
Bunge moved headquarters from New York to Chesterfield in the summer of 2019.
Bunge is a Fortune 500 company.
2. Emerson

An activist hedge fund urged Emerson to split the company, sparking a review of its operations and structure. The company will remain whole, but is implementing cost-saving measures.
Emerson is a Fortune 500 company.
1. Centene

The company calculates that Neidorff earned 383 times as much as its median employee, who earned $68,897.
Centene is a Fortune 500 company.