MONTREAL – Flight training and simulator company CAE boosted the compensation of its senior executives last year, including a near doubling of the total payout to chief executive Marc Parent, according to a regulatory filing ahead of its annual meeting.
The Montreal-based company says Parent received $4.49 million, up from $2.37 million in 2013. He received nearly $3.04 million in 2012.
Much of last year’s increase was due to a cash bonus and share and option-based awards.
Parent’s share-based awards surged more than 42 per cent to $1.32 million. He received an $823,450 bonus and $830,496 in options, compared to nothing in the prior year. His pension value and other compensation increased to $528,000 and $134,827 respectively.
Chief financial officer Stephane Lefebvre’s compensation increased 32.5 per cent to $1.59 million.
The head of civil products and training, Nick Leontidis, received $2.15 million compared to $1.13 million in 2013. Defence segment president Gennaro Colabatistto received $1.71 million compared to $1.38 million a year earlier.
CAE (TSX:CAE) will hold its annual meeting Aug. 13. It posted record $2.1 billion revenues last year and sold 48 flight simulators, an industry record.
It also reduced net debt-to-capital ratio by 12 per cent and increased its annual dividend by 20 per cent to 24 cents per share.