Saturday, March 7, 2020

Southfield, Michigan-Based Motor Vehicle Supplier Lear Corp's Top-Tier Executives Average Pay and Benefit Raise Was an Off-the-Charts 56.1% Per Year During the Past 10 Years (2009-2018). Lear Corp Top-Tier Execs Flat Out Cleaned Up in the Auto Bailout Period, With Their Total Annual Compensation Going From $5.458 Mil in 2008 to $31.051 Mil in 2011, an Increase of 469% in Only Three Years. Further, the Restricted Stock Units Granted to Lear Corp Top-Tier Execs Just in 2009 Had a Total Fair Value on 2009 Grant Date of $21.960 Mil and Lear Corp's Stock Market Price Advanced From $33.82 Per Share at 2009 Year End to a High of $206.36 Per Share in Mid-June 2018, an Increase of Another 510%.

From Company Proxy Statement filings with the SEC, below are Lear Corp's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent ten years. 


FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE
Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec
Lear Corp 2018 2017 2017 2016 2016 2015 2015 2014 2014 2013
Top-Tier Total Total Total Total Total Total Total Total Total Total
Executive Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp
$ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s
Raymond Scott CEO       9,936       5,475       5,475       4,864       4,864       4,577       4,577       4,752       4,752       4,209
Jeffrey Vanneste CFO       4,362       4,897       4,897       4,498       4,498       4,103       4,103       3,998       3,998       3,530
Terrence Larkin General Counsel       4,197       4,930       4,930       4,747       4,747       4,552       4,552       4,436       4,436       4,191
Frank Orsini President Seating       4,156       4,347       4,347       4,064       4,064       3,803       3,803       3,673  N/A   N/A 
Thomas DiDonato Chief Admin Officer  N/A   N/A 
Matthew Simoncini Former CEO       1,359     14,833     14,833     14,444     14,444     13,612     13,612     12,174     12,174     10,802
 Totals      24,010     34,482     34,482     32,617     32,617     30,647     30,647     29,033     25,360     22,732
Annual % Change vs Prior Year -30.4% 5.7% 6.4% 5.6% 11.6%
5 Year Average Per Year % Change -0.2%
FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE
Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec
Lear Corp 2013 2012 2012 2011 2011 2010 2010 2009 2009 2008
Top-Tier Total Total Total Total Total Total Total Total Total Total
Executive Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp
$ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s
Raymond Scott CEO       4,209       4,975       4,975       4,157       4,157       2,894       2,894       5,222       5,222          883
Jeffrey Vanneste CFO       3,530       3,969  N/A   N/A     
Terrence Larkin General Counsel       4,191       4,829       4,829       3,855       3,855       2,775       2,775       5,105  N/A   N/A 
Frank Orsini President Seating    
Thomas DiDonato Chief Admin Officer
Matthew Simoncini Former CEO     10,802     10,141     10,141       5,782       5,782       2,826       2,826       5,182       5,182          959
Melvin Stephens SVP Communications       3,269       3,887       3,887       3,397  N/A   N/A 
Jason Cardew VP and Former Interim CFO       1,523       1,292  N/A   N/A 
Robert Rossiter Former CEO  N/A   N/A      13,330       9,092       9,092     18,658     18,658       2,737
Louis Salvatore Former President Seating       3,927       2,878       2,878       5,209       5,209          879
 Totals      26,001     27,801     25,355     18,483     31,051     20,465     20,465     39,376     34,271       5,458
Annual % Change vs Prior Year -6.5% 37.2% 51.7% -48.0% 527.9%
5 Year Average Per Year % Change 112.5%
10 Year Average Per Year % Change 56.1%